Binance to Suspend Fiat Deposits in Australia
Binance one of the largest cryptocurrency exchanges in the world, has announced that it will suspend fiat deposits in Australia. The move comes after the Australian Securities and Investments Commission (ASIC) issued a warning to Binance about its operations in the country.
Fellow Binancians,
— Binance Australia (@Binance_AUS) May 18, 2023
We regret to inform you that with immediate effect we are unable to facilitate PayID AUD deposits for Binance users due to a decision made by our third party payment service provider. We understand from our third party payment service provider that Bank…
Ledger to Share Users' Seed Phrases with Law Enforcement
Ledger, a leading manufacturer of hardware wallets, has announced that it will share users' seed phrases with law enforcement if required to do so. The move has been met with criticism from some users, who argue that it could make their cryptocurrency wallets vulnerable to hacking.
Exciting update, Ledger has a new product, Ledger Recover, that’s launching soon: https://t.co/nT1VHnnSYz
— Ledger (@Ledger) May 16, 2023
🧵Here’s what Ledger Recover is and what it isn’t, explained by @P3b7_ & in the thread below. pic.twitter.com/RW1w07H6pK
Strike Adds Support for Tether's USDT, Making It Easier for Users to Send and Receive Digital Assets
Strike, a payments platform built on Bitcoin's Lightning Network, has added support for Tether's USDT, the world's largest stablecoin. This means that users can now instantly send and receive USDT within the Strike app, as well as convert their digital assets into fiat currency swiftly. The addition of USDT is part of Strike's commitment to democratizing finance and promoting inclusivity on a global scale.
Ethereum Developers Release Patches for Recent Beacon Chain Finality Issues
Ethereum's beacon chain briefly lost finality twice this week. The first occurrence caused the network to stop finalizing blocks for around 25 minutes and the second outage lasted for over an hour. Patches have been released for Ethereum clients Prysm and Teku, allowing them to update their systems. The beacon chain experienced finality issues on Thursday and Friday, although end users of Ethereum did not face any transaction issues.
MetaMask Now Allows US Users to Buy ETH via PayPal
MetaMask, a popular cryptocurrency wallet, has started rolling out the ability for US users to buy ETH via PayPal. This integration makes it easier for US users to purchase ETH and participate in the decentralized finance (DeFi) ecosystem. To buy ETH via PayPal, MetaMask users simply need to select PayPal as their payment method and enter their PayPal login credentials. Once the purchase is complete, the ETH will be deposited directly into the user's MetaMask wallet.
#DYK
— MetaMask 🦊💙 (@MetaMask) May 11, 2023
MetaMask🦊 is the first web3 wallet to enable users to buy ETH using PayPal!
Get started here👇https://t.co/RGcamJQoQ2
Tether (USDT) Reports $1.48 Billion Profit in Q1, Reveals Bitcoin and Gold Reserves
Tether, the world's largest stablecoin issuer, reported $1.48 billion in net profit for the first quarter of 2023. This is double the previous quarter's result. Tether also revealed that it holds $8.6 billion in Bitcoin and $1.6 billion in gold as reserves. This is the first time that Tether has disclosed its reserve holdings.
The company's strong performance in the first quarter comes amid a broader rally in the cryptocurrency market. Bitcoin, the world's largest cryptocurrency, gained over 50% in value during the quarter. Tether's growth is also being driven by increased demand from institutional investors.
Tether's disclosure of its reserve holdings is a positive step for the cryptocurrency industry. It provides greater transparency and accountability to investors. It also helps to address concerns about the stability of stablecoins.
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