TRON founder Justin Sun has made a public call to back a U.S. presidential candidate favorable to cryptocurrencies. Sun emphasizes the importance of recognizing the cryptocurrency community—including companies and protocols—as key stakeholders in the political arena. He urges that their voices be heard and their interests safeguarded, highlighting the growing influence of digital currencies in […]
Bitcoin News
Analyst: Gold Demand From China Continues Supporting the Bull Market
Jan Nieuwenhuijs, a gold market analyst, has assessed the state of the gold market, reporting that growing demand from both the private market and the People’s Bank of China (PBOC) has been instrumental in the rise of gold prices. Chinese private investors purchased 543 tonnes during Q1, while the PBOC acquired 189. China Continues Propping […]
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Ripple Unveils Brazil Fund for Supporting Local XRP Ledger Projects
Ripple, the cryptocurrency services and payments company, has recently unveiled a local fund to support Brazil-based projects using XRP Ledger, the XRP asset blockchain. Julia Heitner, Program Manager of the XRPL Grants program, stated that Brazil was the first country where this strategy would be implemented, given the nation’s openness to blockchain initiatives. Ripple Launches […]
Bitcoin News
Bitlight Labs Launches Public Release of Bitlight Wallet, the First Self-Custodial Bitcoin Wallet Supporting RGB Assets
PRESS RELEASE. Bitlight Labs Launches Public Release of Bitlight Wallet, the First Self-Custodial Bitcoin Wallet Supporting RGB Assets Bitlight Labs, a pioneer in RGB protocol and Lightning Network infrastructure development and a board member of the LNP/BP Association, announced the launch of its flagship product, Bitlight Wallet, on April 27, 2024, at 14:00 UTC. Bitlight […]
Bitcoin News
Indian Government Confirms Commitment to Supporting Web3 Startups
The Indian government has confirmed its commitment to supporting startups that are innovating in the Web3 sector in India. “Web3 represents the future of internet and the government is committed to ensuring that the innovators and innovation from India create the future of Web3 and internet,” said the country’s Minister of State for Electronics and Information Technology.
Indian Government’s Web3 Stance
The Indian government answered some questions about Web3 in Lok Sabha, the lower house of India’s parliament, on Wednesday.
The Minister of Electronics and Information Technology was asked by a parliament member “whether the government supports startups that are innovating in the Web3 sector in the form of any incubation or mentorship.” Noting that blockchain is “an important element of Web3,” Minister of State for Electronics and Information Technology Rajeev Chandrasekhar replied:
Yes … Web3 represents the future of internet and the government is committed to ensuring that the innovators and innovation from India create the future of Web3 and internet.
Minister Chandrasekhar proceeded to outline various initiatives undertaken by the Ministry of Electronics and Information Technology (Meity) to support Web3 startups.
He explained that in March 2020, a Centre of Excellence (CoE) focused on blockchain technology was established through a collaborative effort involving Meity, Software Technology Parks of India (STPI), the government of Haryana, Padup Venture Private Ltd., IBM, Intel, the Global Blockchain Association (GBA), and the Foundation for Innovation and Technology Transfer (FITT).
“The CoE is a domain-specific specialized incubation facility for start-ups in the area of emerging technologies where infrastructure, technology, leadership, mentoring, training and networking are made available,” Chandrasekhar detailed. “This is an initiative to identify and evaluate promising start-ups in the field of blockchain technology.”
Moreover, he added that Meity supports startups that are innovating in emerging technologies in the form of incubation or mentorship through the Technology Incubation and Development of Entrepreneurs (TIDE 2.0) Scheme; the Product Innovation, Development and Growth (SAMRIDH) startup accelerator program; the Next Generation Incubation Scheme (NGIS); and the Support for International Patent Protection in E&IT (SIP-EIT) Scheme.
What do you think about the Indian government supporting startups innovating in the Web3 sector in India? Let us know in the comments section below.
Supporting 2 Wars Is Feasible Despite US Debt Surge, Says Yellen
After the United States recently accumulated hundreds of billions in debt and directed over billion to Ukraine, U.S. Treasury Secretary Janet Yellen assured on Monday that the nation is financially equipped to back two wars.
U.S. Can ‘Certainly Afford’ 2 Wars Yellen Insists Amid Rising Debt and Possible Mid-November Shutdown
Last month, just three hours shy of a potential U.S. government shutdown, President Joe Biden ratified a bill ensuring a 45-day operational continuation. Yet, if bipartisan agreement on spending remains elusive, another shutdown looms by mid-November. Speaking with the U.K.’s Sky News, Treasury Secretary Janet Yellen delved into the Ukraine-Russia conflict and the Israel-Hamas dispute.
In the conversation, Yellen conveyed her hesitance to gauge the economic repercussions of the Middle East’s recent turmoil but acknowledged the uptick in energy prices. Contrasting her remarks from last May, where she warned of a possible U.S. debt default by June, Yellen, during her interview Monday, highlighted the feasibility of the U.S. funding both wars in Ukraine and Israel.
“We do need to come up with funds, both for Israel and for Ukraine. This is a priority,” Yellen told Sky News host Wilfred Frost. “It’s really up to the House to find, seat a speaker and to put us in a position where legislation can be passed,” she added.
Yellen elaborated:
America can certainly afford to stand with Israel and to support Israel’s military needs and we also can and must support Ukraine in its struggle against Russia.
The latest statements from Yellen echo her earlier stance on Ukraine. Before the G20 Summit in July, she underscored that bolstering Ukraine was imperative for the global economy’s health. When questioned about the U.S. Treasury’s capability to deter Iran from intervening, Yellen responded:
I know that there are diplomatic conversations that are taking place. But I’m not going to go into details about them.
Over the past ten years, the national debt has been on a steady climb. Yet, with the recent upticks in interest rates and inflation, the interest expenses are now swelling. As of October 16, 2023, at 1:20 p.m. Eastern Time, usdebtclock.org shows the U.S. debt standing at a staggering .56 trillion. Yellen’s conversation occurred right before her rendezvous with finance magnates in Luxembourg.
What do you think about Yellen’s confidence that the U.S. can support two wars? Share your thoughts and opinions about this subject in the comments section below.
IMF Boss: Supporting Egyptian Currency Akin to ‘Putting Water in a Bucket That Has Holes’
Kristalina Georgieva, the International Monetary Fund (IMF)’s managing director, has said Egypt needs to plug leakages of foreign reserves if it wishes to successfully support its currency. According to the IMF leader, Egyptian authorities must also do more to support the vulnerable and to ensure that such support does not benefit the rich.
Multiple Exchange Rates ‘Create Privileged Positions for Some’
According to the International Monetary Fund (IMF)’s managing director, Kristalina Georgieva, attempting to shore up the Egyptian currency without first plugging foreign reserves leakages is akin to “putting water in a bucket that has holes.” Georgieva also argued that Egypt’s multiple exchange rate policy has created a system that only benefits the privileged.
However, in her remarks during an interview with Asharq Business, the IMF boss insisted the global lender is still holding discussions with Egyptian authorities. She also highlighted how a closer working relationship with the global lender can help the country’s leaders make the right decisions.
“I have high respect for President Abdel Fattah Al-Sisi and I trust that by working together, he can make the right decisions for the country,” Georgieva said.
The IMF leader added that Egyptian authorities have already made the right decisions which include agreeing to use the International Finance Corporation (IFC)’s expertise.
State Urged to Make Way for Private Sector
However, Georgieva insisted that Egypt still needs to do more on three fronts to improve its competitiveness. One of the first steps the North African country needs to take is to get the state out of sectors of the economy where the private sector is better placed. Doing this will not only allow the private sector to flourish but will also create jobs.
According to the IMF leader, Egyptian authorities must also do more to support the vulnerable and to ensure that such support does not benefit the rich. Authorities also need to think of ways of bolstering the country’s foreign reserve position.
Meanwhile, in his remarks at a finance summit in France, Egyptian President Al-Sisi asked global lenders to show mercy. He said his country is currently undertaking infrastructure projects which “cost us major sums of money” and therefore he requests for “our development partners to be understanding.”
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What are your thoughts on this story? Let us know what you think in the comments section below.
Bitcoin Ordinal Inscriptions Surge Past 100,000 Mark, Spurring Development of Supporting Infrastructure
According to the latest statistics, more than 100,000 ordinal inscriptions have been added to the Bitcoin blockchain since the start of the trend. Amid the growing popularity, people have launched supporting marketplaces and tools that allow individuals to inscribe without a full node. Additionally, a decentralized Ordinal exchange is reportedly in the works.
100,000 Inscriptions and Growing: Increased Ordinal Inscriptions Lead to Record Bitcoin Metrics
Roughly nine days ago, there were fewer than 10,000 Ordinal inscriptions on the Bitcoin (BTC) blockchain. Since then, inscriptions have increased by 1,434%, surpassing the 100,000 mark. At the time of writing, there are approximately 109,988 Ordinal inscriptions hosted on the decentralized network.
Since the inscriptions trend has swelled, a number of individuals and organizations have been building infrastructure to promote more adoption. For instance, gamma.io and ordinalsbot.com have created tools that allow people to mint Ordinal inscriptions onchain for an added fee on top of the network fee.
Tools such as these have appeared in more recent times and are allowing users who do not operate a full node to mint inscriptions. The Bitcoin wallet Xverse has launched Ordinal support, and people have been discussing two Ordinal marketplaces that allow users to buy and sell inscriptions.
The decentralized Ordinals Marketplace is coming 👀 pic.twitter.com/AiMVNMZNdO
— Hell Money (@hellmoneypod) February 6, 2023
Furthermore, a decentralized Ordinal marketplace is reportedly coming, according to a recent tweet and a clip from the Hell Money Podcast. People have even built a handy calculator that estimates the current cost to inscribe on the Bitcoin blockchain. Prior to the Ordinal inscription count reaching 100,000, people were discussing how early they were and how many minters hoped to inscribe their messages before reaching the 100K milestone.
Muneeb Ali, the co-founder of Stacks, a Bitcoin layer for smart contracts, tweeted about a new bitcoin web wallet that’s on the horizon and noted that it will support Ordinals, NFTs, and Bitcoin Layer 2 solutions, in addition to native Bitcoin. “New Bitcoin web wallet release almost ready,” the Stacks co-founder said.
Since the surge in Ordinal inscriptions, the Bitcoin network has registered the largest increase in Taproot usage in months and the highest transaction fees in over a year. Additionally, block sizes above the 3 MB range have become commonplace on the Bitcoin network.
What do you think the future holds for the development of the Ordinal inscription trend on the Bitcoin network? Let us know what you think about this subject in the comments section below.
Supporting Multiple Cryptos and Public Chains, ViaWallet emerges as a Secure Asset Management Tool
On March 3rd, 2022, ViaWallet, a multi-chain & multi-cryptocurrency decentralized wallet, organized a Twitter Q&A Session in collaboration with CoinEx Exchange. The questions centered on ViaWallet’s project ideas, unique features, security level, future development and partnership. Here are some of the questions asked during the session along with in-depth responses provided by the organizers.
Overview
1. Can you briefly explain the main idea/purpose behind the ViaWallet project?
ViaWallet is mainly designed to meet the demand for asset management. Right now, you can trade and store (short-term) crypto assets in any crypto exchange. Yet, we believe that the specialized storage and management of cryptos also matter, and there is strong demand for such functions, which is why we decided to launch ViaWallet.
Compared to a crypto exchange, ViaWallet focuses more on the storage and management of assets. More importantly, the application is safer and meets the demand for asset security and management.
The upgrades of ViaWallet have also been centered on such demands. To meet the demand for the management of different assets, ViaWallet rolled out a multi-chain/multi-crypto model. In ViaWallet, both the single-crypto wallet and the multi-crypto wallet are available. ViaWallet now supports 45 coins, spanning mainstream public chains such as BTC, ETH, CSC, TRON, Terra, Polygon, BSC, DOGE, and over 1 million tokens, covering most mainstream tokens, which meets the demand for the management of multiple cryptos.
2. How is ViaWallet different from other wallets? What makes it different?
Compared with other wallets, ViaWallet has been optimized in terms of multi-crypto management, transaction experience, and security — the top three concerns among ViaWallet users.
To begin with, ViaWallet is a multi-chain, multi-crypto wallet that supports 45 coins and over 1 million tokens, covering most mainstream cryptos. It is one of the best wallets in terms of the number of cryptos supported. Moreover, the list of cryptos supported by ViaWallet keeps getting longer.
Secondly, ViaWallet features simple interactions, which are beginner-friendly. For many new users, crypto wallets are not easily accessible because they have no idea how such applications are used. Always putting users first, ViaWallet meets demands through enhanced functionalities while simplifying wallet-user interactions.
Finally, ViaWallet promises enhanced security. As we all know, security is the top concern for asset management. From coding to product design, ViaWallet prioritizes its security. In a decentralized wallet, users have control over the private key, which means that assets are 100% controlled by users. To keep the APP safe and secure, we have also introduced a wide range of ensuring mechanisms, including app lock, security password, mnemonic phrases, ciphertext QR code, etc.
3. What are the major problems ViaWallet seeks to solve? As a multi-chain wallet, how does it intend to secure the assets of users especially due to the numerous transactions they will perform through the wallet?
We are now trying to further improve the user experience while enhancing ViaWallet’s security and supporting more cryptos. Stay tuned for more updates!
As a multi-chain, multi-crypto wallet, ViaWallet has to process massive transaction info, which is also a function that we prioritize. One of the advantages of ViaWallet is its ensured security and reliability, which enables satisfying user experiences.
Firstly, in terms of product design, we have rolled out multiple protection mechanisms, including app lock, security password, mnemonic phrases, and ciphertext QR code, to keep the APP safe and secure.
Secondly, ViaWallet is a decentralized wallet. In other words, you can get registered without providing any private information. Instead, you can use the APP simply by importing the private key/mnemonic phrases or creating a new wallet. Since we do not collect or store your private key, you will exercise 100% control over the assets.
Apart from this, members of our R&D team are seasoned developers with job experiences in leading Internet companies and deep industry insights. As such, the coding of ViaWallet is highly reliable, and the team is also striving for more optimization to improve the APP’s performance.
It should also be mentioned that ViaWallet is backed by a professional, multilingual customer service team, enabling more satisfying user experiences.
Functions
4. What advantages/facilities does ViaWallet give its users?
ViaWallet offers a safer and more easy-to-use option of asset management.
First of all, ViaWallet provides a more secure and reliable approach to asset management. In this decentralized wallet, users have 100% control over their assets. In addition, it uses multiple measures (e.g. app lock) to keep the APP safe and secure when it is running.
Secondly, ViaWallet features a simple, intuitive product design, which makes crypto wallets fully accessible to beginners. To us, the user experience is always a priority. ViaWallet always pursues more intuitive wallet-user interactions and will continue to do so in future upgrades. This will help new users get started with the APP soon after it is installed.
ViaWallet offers all-inclusive services. The APP now supports 45 coins and over 1 million tokens, covering most mainstream currencies. Plus, the DApps on public chains such as ETH, TRON, and BNB Chain are all available in ViaWallet, spanning decentralized exchanges, decentralized lending/borrowing, synthetic assets, and other types of DApps. ViaWallet also provides customer services in multiple languages, which enables more satisfying user experiences.
5. Is it possible to stake $CET in ViaWallet?
At the moment, ViaWallet does not support the direct staking of CET, but you can stake $CET through CSC DApps (e.g. IFPool) supported by ViaWallet.
6. What chains does ViaWallet currently support?
ViaWallet now supports 45 coins, including BTC, ETH, TRON, CSC, NEAR, Terra, and Avalanche, and over 1 million tokens. Go to the ViaWallet website for the specific public chains supported by the wallet: https://viawallet.com/assets.
7. Is it possible to swap the coins with no liquidity added to the pool?
Yes, of course. You can swap coins through our Swap function. At the same time, we also provide DApps like OneSwap, Uniswap, and SushiSwap that facilitate the swapping of assets. You can choose a swapping platform based on your own preference.
8. Does ViaWallet support decentralized exchange?
ViaWallet now offers all kinds of DApps, including well-known DEXes such as OneSwap, Uniswap, SushiSwap, etc. Download ViaWallet now to experience the premium DApps: https://viawallet.com/download
9. Can you tell us some of your recent partnerships? How do you plan to make them better?
ViaWallet has recently partnered up with SWFT, a cross-chain swapping platform, to enable the swapping of coins across multiple chains. In the future, we will announce more partnerships for the benefit of users and offer more satisfying services.
In future upgrades, we will support NFTs, list more cryptos, and provide all-new interactive experiences. In the meantime, ViaWallet will be available in more languages and cover more fiat currencies to better serve users around the world while offering more convenience.
10. Do you have plans to include NFT projects in the future?
The plan for supporting NFTs is already underway and will go live in a new version that will soon be released. The first NFT-supported version will feature services such as the storage, transfer/receipt, and inquiry of NFTs. Additionally, we will also list NFT-related DApps such as OpenSea to help you trade NFTs.
Stay tuned for the next update to try out the latest features of ViaWallet ahead of others!
Brand & Community
11. Why did you choose this name “ViaWallet”? Can you explain the meaning behind it?
The launch of ViaWallet is backed by the foundation laid by ViaBTC Pool, a world-leading crypto-mining service. As one of the major subsidiaries of ViaBTC Group, ViaWallet is committed to the vision of “Via wallet, linking you to the future finance”, which is why the APP is named ViaWallet.
12. How did you get the community involved in developing the project? How do you build a strong community to grow globally?
Here at ViaWallet, user feedback is always a priority. In 2021, we introduced a new function called “Suggestions” (at the “Me” page in the APP) to encourage users to give us advice and feedback about user experiences. This new feature allowed us to listen to the users, and we have taken much of their feedback to heart and will adopt the valuable suggestions we received. If you have any suggestions while using the APP, please feel free to let us know.
In addition, we have built a customer service team to help users solve problems through tickets, emails, Telegram messages, etc. After reviewing the issues, the team will create the corresponding solutions to offer smoother and more stratifying product experiences.
MoneyGram Supporting Retail Bitcoin Buying In US
In partnership with Coinme, MoneyGram has announced today their intent to accept buying and selling of Bitcoin at over 12,000 US locations. The announcement also included the intent to expand support for Bitcoin internationally by the back half of 2021.
MoneyGram & Coinme Partnership
MoneyGram is a long-time global payments operator citing nearly 150M consumers over the past five years. Coinme is a licensed crypto exchange that also operates over 20,000 physical ATMs. The goal of the collaboration is to “bring Bitcoin to thousands of new point-of-sale locations in the U.S.” in the near term.
The partnership press release also cited the company’s intent to create “global cash on and off-ramps” to “ensure access to Bitcoin”. MoneyGram CEO Alex Holmes added that the “innovative partnership opens our business to an entirely new customer segment as we are the first to pioneer a crypto-to-cash model by building a bridge with Coinme to connect Bitcoin to local fiat currency”.
Related Reading | Real Adoption: How Will Mastercard’s Crypto Acceptance Affect Bitcoin Price?
The Rollout
MoneyGram and Coinme emphasized that having a service rollout that is “specifically designed for customers who may be interested in utilizing Bitcoin for the first time” was top of mind. Over the course of the next few weeks, the firms will start making transactions available throughout the 12,000 MoneyGram locations. The full rollout is anticipated to scale out over 20,000 US locations and be “fully operational in the coming weeks”.
The partnership follows a number of major financial services companies ingraining crypto transactions into their day-to-day operations. CashApp has added Bitcoin transaction support, Venmo announced last month that they intend to support crypto purchases and sales, and Mastercard intends to offer support for customers cryptocurrency transactions later this year. Other fintech and tech-forward companies, such as Square and Tesla, have also added Bitcoin to their balance sheet in recent months.
Coinme also has a partnership in place with Coinstar that enables crypto transactions at Coinstar kiosks throughout 6,000+ locations in the US.
Accessibility to BTC has been a focal point for many companies. | Source: BTC-USD on TradingView.com
MoneyGram & Crypto
This isn’t the first time MoneyGram has worked to ingrain their business in the broader cryptocurrency landscape. The company had previously formulated a partnership with US-based crypto, Ripple (XRP). The partnership came to a mutually-agreeable ending in March, though the companies reiterated a commitment “to revisiting our relationship in the future”. The partnership termination came shortly after reports of an SEC-filed lawsuit against Ripple, for engaging in an unregistered securities offering through XRP transactions as early as 2013. The deal included Ripple paying transaction fees for MoneyGram using the XRP token in international settlement deals.
MoneyGram is a Dallas, TX based firm publicly traded on the NASDAQ ($MGI).
Related Reading | Ripple Presses On Despite Losing MoneyGram Partnership, Will XRP React?
Featured image from Pixabay, Charts from TradingView.com