EXCHANGES

Banking Giant HSBC Set to Fire 10,000 More Employees

[ad_1] The banking sector continues to suffer drastic layoffs as the global economic outlook remains uncertain. The latest financial institution reported to be set for cutting a massive amount of workers is HSBC, which has already announced firing thousands of people just a few weeks ago. Also Read: Bitfinex Braces for Imminent Lawsuit Alleging Tether Manipulates Crypto Market HSBC to Cut High-Paying Jobs in Europe London-headquartered multinational investment bank HSBC
Business

Crypto Market Continues to Show Green Candlesticks, BTC Recovers to $8,200

[ad_1] Monday, Oct. 7 — Bitcoin (BTC) continues its rebound together with most of the other cryptocurrencies, with notable gainers Chainlink (LINK) and Tron (TRX) breaking 10% gains on the day.Cryptocurrency market daily overview. Source: Coin360The world’s most popular crypto coin closed the week with a selloff, pushing its price well below the $8,000 mark and recording a close down 2.5% for the week. However, Monday seems to be bearing gifts.Bitcoin
BLOCKCHAIN

Economic Dept. of Dubai Unveils Blockchain-Based Business Registry

[ad_1] The Department of Economic Development in Dubai has announced its move to a blockchain-based unified business registry platform (UBRP).On Oct. 7, the Saudi Gazette reported that the Dubai Department of Economic Development (DDED) will be moving to a UBRP to regulate businesses. The blockchain solution aims to improve the ease of doing business in Dubai and enable license issuers to manage trade licenses and corporate registries.The Silicon Oasis Authority,
BLOCKCHAIN

Enterprise Ethereum Alliance’s Reward Token System Backed by Microsoft, Intel

[ad_1] Microsoft and Intel are backing a new system of reward tokens created by the Enterprise Ethereum Alliance (EEA).EEA creates new reward token systemThe EEA, which sets standards for Ethereum-based blockchain applications in business, shared the developments in a statement with Cointelegraph on Oct. 7.The organization said that it has created a new system of reward tokens that receives the support of software giant Microsoft and Intel.The EEA is a
EXCHANGES

UK Regulator Ramps up Crypto Investigations and Considers KYC for Wallets

[ad_1] The U.K.’s Financial Conduct Authority (FCA) has been relentlessly scrutinizing cryptocurrency startups and investigations are up 74% from last year. Meanwhile, proponents of decentralized software development models and open collaboration are upset about the FCA aiming to extend KYC/AML regulations to the publication of open source and zero-knowledge software. Also Read: McAfee to Launch Decentralized Token Exchange With No Restrictions Since 2018, FCA Investigations Into Crypto Companies Increased by
BLOCKCHAIN

South Korean KB Kookmin Bank Adopts Blockchain to Improve Internal Processes

[ad_1] Major South Korean bank KB Kookmin Bank is planning to integrate blockchain technology into its internal processes.As local news outlet Korea JoongAng Daily reported on Oct. 7, KB Kookmin stated that blockchain technology could provide a spectrum of benefits to the financial industry, including the issuance of digital tokens, funding, custodial services and trading.Taking a proactive approach toward blockchain adoptionAs for the bank itself, it intends to deploy decentralized
Business

Widow of QuadrigaCX Founder Hands Over $9 Million in Assets to Users

[ad_1] Robertson returns most of her assetsOn Oct. 7, Jennifer Robertson announced in a personal statement, posted by Coindesk, that she would be transferring the vast majority of estate assets — previously valued around $9 million — to EY Canada. The Big Four audit firm acted as the bankruptcy trustee of QuadrigaCX during its insolvency hearings. Robertson stated:"I have now entered into a voluntary settlement agreement where the vast majority of my assets and
EXCHANGES

The Ugly Side of Traditional Banking

[ad_1] Last week the world saw the ugly part of traditional banking, with Turkey suddenly freezing millions of accounts and Hong Kong ATMs being out of cash. Incidents like these encourage people from all social strata to consider safer stores of value (SOVs), with Bitcoin being the first reasonable option. Turkey Freezes More Than 3M Bank Accounts On Thursday, local media outlet Sözcü Gazetesi reported that hundreds of thousands of
EXCHANGES

Social Media Mentions of ‘Altcoin Season’ Tank in October, Data

[ad_1] Social media mentions of “altcoin season” were fewer and far between in the past weeks, after several crashes almost erased the gains made in 2019. Altcoins gave way to growing Bitcoin (BTC) maximalism, as the leading coin outperformed most smaller assets. Hopes for Altcoin Season Seem Lost Research by The TIE shows that mentions of “altcoin season” on social media dropped like a rock in October. After surging between
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Schnorr + Taproot Soft Fork Promises Big Things For Bitcoin

[ad_1] Engineers and developers are continuously working to provide Bitcoin with technological improvements. Now, most likely, the next Bitcoin technological breakthrough will come through the Schnorr + Taproot soft fork. Greater Scalability, Fungibility, and Script Innovation According to Bitcoin Optech contributor Steve Lee, the Schnorr + Taproot soft fork proposal offers “a whole new world of possibilities.” Specifically, the proposal promises to provide Bitcoin with greater scalability for multi-signature applications