GPay Limited, which traded as XtraderFX (formerly CryptoPoint) has been shut down by UK authorities following investigations into its practices.The firm has been on the radar of the Financial Conduct Authority for over two years. But a High Court hearing, before Deputy Insolvency & Companies Court Judge Baister, finally forced it to close last week.“This…
Over the past few weeks, Ethereum as a network has seen a spike in transactions and active users.Just days ago data from Santiment indicated that the number of daily active addresses passed a two year high. Simultaneously, the number of daily confirmed transactions ticked past 1,000,000, making many think back to the 2018 bubble.Fees, though,…
Bitcoin may see a major boost in demand following Brazil’s Central Bank blocking payments from the WhatsApp messenger app in the country.Brazil is the app’s second-largest market, leaving a massive hole that could soon be filled by cryptocurrencies.Central Bank Of Brazil Suspends Facebook’s WhatsApp Payment FeatureIn a move to “preserve an adequate competitive environment,” the…
Calibra, the digital wallet Facebook designed to be used with its cryptocurrency Libra, has now been renamed to “Novi.” The company established a new subsidiary, Novi Financial, that will be tasked with developing the newly rebranded wallet.Libra’s Old Digital Wallet Gets a New IdentityFacebook’s highly contested digital currency Libra has been in the process of…
Facebook has once again made changes to its controversial Libra cryptocurrency project following widespread criticism. The technology giant announced a new name for the Calibra digital wallet, which is being developed to store and spend digital currencies. Calibra will now be known as Novi and will support a series of so-called stablecoins, which are tied…
Facebook is reportedly shifting its plans to launch a new digital currency following widespread criticism of its Libra cryptocurrency project. The technology giant will now open the payments network to support digital versions of existing currencies, such as the US dollar, Euro and pound sterling. Since announcing the project in June last year, Facebook has…
Vodafone has become the latest major company to withdraw from Facebook’s Libra cryptocurrency project. The telecoms firm joins eBay, Mastercard, PayPal, Stripe and Visa in quitting the association set up to develop a new global currency that would work across Facebook’s suite of apps. “We have said from the outset that Vodafone’s desire is to make…
Facebook‘s controversial cryptocurrency project has “failed” in its current form, according to the Swiss president. Ueli Maurer, who also serves as Switzerland’s finance minister, said that Facebook’s Libra would not be accepted by central banks and therefore not work as a currency. “I don’t think [Libra will succeed], because central banks will not accept the basket…
During the crypto hype bubble and Bitcoin’s meteoric rise, speculation ran wild due to the incredible potential the emerging technology could bring to the world, if only the technology could find its “killer app” – something that makes the technology a must-have addition to daily life. While a clear killer app never arrived, there’s evidence…
Most of the angst against the crypto industry this year has been instigated by one company. The major economies of the world have collectively given the bird to Facebook and its plans on crypto domination through its own centralized digital coin. The social media giant is now scrambling to launch an alternative payments platform. Facebook…