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The United Arab Emirates ( UAE ) is one of the most cryptocurrency -friendly regions in the world. One of the UAE ’s emirates, Ras Al Khaimah (RAK), has announced the creation of the first free economic zone entirely devoted to virtual assets. The economic zone is called “RAK Digital Assets Oasis.” The Oasis will start accepting applications the following quarter, in April 2023. According to reports, the decision was made at the Blockchain Life 2023 conference. RAK Digital Assets Oasis wants to create a free zone only for companies that offer services related to cryptocurrencies and other digital assets. The RAK Digital Assets Oasis elected Sheikh Mohammed bin Humaid bin Abdullah Al Qasimi as its chairman. He thinks that the newest cryptocurrency project will strengthen the UAE ’s status as the top location for new businesses. Al Qasimi stated, “We are building the free zone of the future for the companies of the future. As the ...

Wallbit, a crypto-enabled neobank, announced it would stop serving users in Venezuela after its banking partner in the U.S. called on it to do so. The platform announced this move was the direct result of the economic sanctions that the country is currently facing, and that Venezuelans outside the country would continue to be served. Wallbit to Cut Service to Venezuelan Users Wallbit, a cryptocurrency-enabled neobank, that advertised itself as being able to open bank accounts for its users in the U.S., announced it will stop service to users who reside in Venezuela. The platform issued a press release on February 24, clarifying that its banking associates were calling for the closing of all accounts opened by Venezuelan users residing in Venezuela, telling these users to withdraw their funds as quickly as possible, even as Wallbit did not indicate a date at which these accounts would be terminated. The company clarified that Venezuelan users living abroad would be still able to use...

A strong BTC price weekly close becomes an attack on resistance levels lost the week prior as DXY headwinds lessen. Bitcoin (BTC) headed toward $24,000 at the Feb. 27 Wall Street open as a strong weekly close translated into further gains. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin gains $1,000 versus weekend lows Data from Cointelegraph Markets Pro and TradingView showed BTC/USD rebounding in line with United States equities futures. The pair had seen lows of $22,770 on Bitstamp over the weekend, these nonetheless proving short lived as the weekly candle closed above $23,500. With stocks rebuilding strength into the new week, hopes were high that Bitcoin could continue its upward trajectory to finish February on a high. “Rejecting at crucial $23.8K level would indicate that we´ll be having another test of the support,” Cointelegraph contributor Michaël van de Poppe, founder and CEO of trading firm Eight, wrote in part of a Twitter update on the day. “If that...

Liquid staking has managed to garner a fair amount of traction over the past few months. Recently, the sector overtook DeFi lending in terms of the number of assets locked up. Data revealed that the combined value of assets deposited in liquid staking protocols stood at $14.09 billion. The combined TVL of DeFi’s lending assets, on the other hand, stood at $13.67 billion. Thus, after DEXs, liquid staking is currently the second-largest sector in the ecosystem. Source: DeFiLlama Also Read: ‘Mysterious’ Ethereum Wallet Now Worth $400M+ A recent tweet from PeckShield revealed that a wallet address labeled “JustinSun” staked around 88k Ethereum tokens worth $143.9 million via Lido Finance. The blockchain security and Analysis firm further revealed that the wallet staked more than 200K Ethereum tokens worth $318.7 million over the past 24 hours. #PeckShieldAlert JustinSun-labeled address has staked 88k $ ETH (~$143.9M) through @ Lido Finance http...

In February 2023, investors are brimming with hope and new expectations for positive returns on their investments. Despite losses in the previous year, some users remain optimistic that their particular cryptocurrency investments will rise or at least break even in 2023.  Notwithstanding analysts’ predictions that the markets will face hurdles this year, investors are keen to take advantage of the chances that exist. This article will concentrate on the top three cryptocurrencies to watch for the last week of February 2023. Also read: Coinbase – Voyager Potentially Converting $100 million to USDC Through Exchange Source: Forbes Ethereum (ETH) Ethereum, the second largest cryptocurrency by market cap, has performed relatively better in 2023. ETH has risen in value by over 34% in 2023. Ethereum has gone from a one-month low of $1,470 to a high of $1,732. However, it has fallen to a price of $1,602 at press time. Source: CoinMarketCap Also read: 359 Milli...

India has asked the International Monetary Fund (IMF) and Financial Stability Board (FSB) to develop “a synthesis paper” on crypto assets as part of the G20 meeting of finance ministers and central bank governors under India’s presidency. “This would help in the formulation of a coordinated and comprehensive policy approach to crypto assets,” said India’s finance ministry. India Asks IMF and FSB for Technical Paper on Crypto The Indian government released on Saturday its “G20 Chair’s Summary and Outcome Document” following the first two-day G20 meeting of finance ministers and central bank governors that took place in Bengaluru on Feb. 24-25. Crypto regulation was among the topics discussed. During a panel discussion on cryptocurrency regulation as part of the G20 meeting, India requested that the International Monetary Fund (IMF) and Financial Stability Board (FSB) collaborate on a technical paper on crypto assets. According to t...

‏KuCoin Wallet  has implemented Multichain to launch the cross-chain swap function, allowing users to bridge tokens across various blockchains in an easy and straightforward manner. With the addition of Multichain, KuCoin Wallet users may easily transact across different blockchains, enhancing the overall user experience. What users can do with KuCoin Wallet cross-chain swaps: Exchange tokens easily between different blockchain networks in KuCoin Wallet Bridge tokens at low costs without any intermediaries Swap thousands of token pairs on multiple blockchains supported in KuCoin Wallet About KuCoin Wallet KuCoin Wallet is a secure and easy-to-use crypto wallet that supports multi-chain aggregation powered by the KuCoin ecosystem. With the security expertise of KuCoin and the leading security technology audited by Hacken, KuCoin Wallet is a self-custody wallet with users having full control of their assets. About Multichain Born as Anyswap on July 20th, 2020, Multichain is positioned a...

Join Our Telegram channel to stay up to date on breaking news coverage Over the past week, OP has been on an upward trend, with its price increasing from $2.5 to $2.9. This represents a significant gain of 13.1%, which is impressive considering the cryptocurrency market’s volatility. Additionally, the trading volume for OP has also increased, indicating that there is renewed interest in cryptocurrency. Optimism Partners With Optimism as a Core Developer for the Open-source Op Stack Coinbase, a well-known cryptocurrency exchange, revealed that it had built a foundation L2 network utilizing Optimism’s OP Stack. Coinbase recently partnered with Optimism as a core developer for the open-source OP Stack, a developer toolkit created for the Optimism network.  However, Coinbase’s involvement in the project isn’t limited to Ethereum alone. The company intends to offer users secure and convenient entry to L2 networks like Optimism and other blockchain ecos...

More than a year after it launched its central bank digital currency with partner Bitt Inc, the Central Bank of Nigeria is reportedly seeking a new technology partner. The new partner is expected to help the central bank implement a system which gives it greater control of the digital currency. One expert said the central bank should consider improving user experience if it wants to see more Nigerians adopting the e-naira. Controlling the E-Naira’s Underlying Technology The Central Bank of Nigeria (CBN) is seeking to install a new system to run its central bank digital currency (CBDC) and is currently talking to prospective technology partners, a report has said. According to a report, the central bank is keen on developing digital currency technology that gives it greater control of the CBDC. R3, a provider of enterprise technology and services, is one of the prospective partners that has reportedly discussed deploying a different tech for the e-naira. As per the report, the C...

Burns have become an integral part of the cryptocurrency ecosystem. Networks like Baby Doge and Shiba Inu [SHIB] have been carrying out extensive burns. More recently, the Baby Doge ecosystem has been making immense noise, and its latest burn portal is one of the reasons behind this uproar. Earlier this month on Feb.13, the network’s burn portal went live. With its launch, 11.8 trillion BABYDOGE tokens worth $47K were sent to dead wallets. Now, ten days after its launch, the total number of assets burned on the burn portal was at 32 trillion. At press time, 32,455,010,086,437 BABY DOGE tokens worth $94,567.27 were burned. Over the last 24 hours alone, more than 16 trillion tokens were sent to dead wallets. The current balance in this wallet was 202,987,052,519,763,296. Source Currently, the circulating supply of the asset was at 159,278,394,658,793,747. Baby Doge: Price Rally Incoming? February has been extremely bullish for Baby Doge. The asset witnessed imm...

Join Our Telegram channel to stay up to date on breaking news coverage FTX co-founder, Sam Bankman-Fried (SBF), has now been charged with four additional criminal conspiracies in a superseding indictment. Among the new charges is a conspiracy to make illegal political donations and defraud the Federal Election Commission.  What: Sam Bankman-Fried has been charged with a conspiracy to make illegal political donations and defraud the Federal Election Commission.  Why:   According to an indictment filed in a New York Federal court, Fried violated federal campaign finance laws by donating more than $25,000 limit to political campaigns.  What Next: Fried faces 12 charges and is set to face trial this October. According to a new indictment unsealed in a New York federal court today, Fried donated more than  $25,000 annually to candidates from 2020 to November 2022. The amount is more than the limit. It is also illegal for donors to make more donations un...

World Wide Web inventor Sir Tim Berners-Lee says cryptocurrency is “really dangerous” and “only speculative.” While claiming that crypto is for those who “want to have a kick out of gambling,” he noted that it could be useful for remittances. Sir Tim Berners-Lee on Crypto Sir Tim Berners-Lee, the British computer scientist who is widely credited with the invention of the World Wide Web, shared his thoughts about cryptocurrency on CNBC’s “Beyond the Valley” podcast, published last week. Berners-Lee called cryptocurrency “dangerous” and likened it to gambling. Claiming that “cryptocurrency can be 100% speculative” and “not linked to anything at all,” he opined: It’s only speculative. Obviously, that’s really dangerous. He asserted that crypto is for “if you want to have a kick out of gambling, basically.” He also compared cryptocurrency to the dot-com bubble, noting that ...

Join Our Telegram channel to stay up to date on breaking news coverage Yesterday, cryptocurrency exchange Coinbase gave a signal that it will not be giving up on its NFT project any time soon. This is true notwithstanding a sharp decline in volume over time and increased shareholder scrutiny. Coinbase received a number of inquiries regarding the firm’s health on an earnings call with investors and analysts after the company reported higher-than-expected sales and a loss of $577 million for its final fiscal quarter of last year. Shareholders asked a query on the exchange’s NFT endeavor, a platform that was introduced last spring. It requested information from Coinbase on how much money the company has lost as a result of its NFT marketplace as well as how it intends to “minimize the burn” that comes with running the platform. The stakeholder also pondered the future of the industry and ways in which Coinbase may expand its market share. According to a Du...