Day: June 20, 2022
Business

China’s WeChat bans crypto and NFT-related accounts

[ad_1] The top social media platform in China, WeChat, has updated its policies to ban accounts that provide access to crypto or NFT-related services. Under the new guidelines, accounts involved with the issuance, trading, and financing of crypto and NFTs will be either restricted or banned and will fall under the “illegal business” category. The policy also covers secondary NFT trading, with the firm noting that “accounts that provide services or
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Business

Ethereum testnet Beacon Chain launched and ready for trial merge

[ad_1] The Sepolia testnet Beacon Chain has gone live, setting the stage for its merge dress rehearsal to give Ethereum network developers valuable technical insights.Upon merging with its dedicated Beacon Chain, the Sepolia testnet will begin reaching consensus using proof of stake (PoS) rather than proof of work (PoW) which will provide data on what may happen when the Ethereum mainnet performs its merge.The Ethereum Sepolia Beacon Chain has been
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ALTCOIN

Babel Has Been Granted a Reprieve From Debt Repayments

[ad_1] Babel, based in Hong Kong, expressed that it has reached tentative agreements on the repayment time frame of its recently acquired debts. This, in turn, has reduced the company's short-term liquidity burden. Babel Finance, the embattled crypto lender which suspended withdrawals on Friday, has received a reprieve on debt repayments as it fights to stay afloat amid a dramatic cryptocurrency market downturn. Babel is in talks with significant institutions
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BLOCKCHAIN

Solend to Reverse ‘Emergency Power’ Proposal in a Second Vote as Struggle to Solve Whale Liquidation Crisis Continues

[ad_1]  Solend, a Solana-based borrowing and lending platform, will go back to the ballot box in a flash vote on whether to go ahead with Sunday’s proposal to take control of the platform’s largest account. The Solana DeFi Protocol’s largest account is a $100 million+ whale’s account on the verge of potential on-chain liquidation.  The cryptocurrency borrowing and lending platforms for tokens such as SOL and USDC give its governance
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Bitcoin News

Bitcoin Climbs Back Above $20k After Weekend Scare

[ad_1] Bitcoin dropped to a new 18-month low on Sunday when it reached $17.5k. After this heavy fall, the coin quickly recovered as it went up above $20k in the following hours, relieving traders to some extent after the bearish market rocked the crypto space. Cryptocurrency analysis platform, CoinMarketCap revealed that Bitcoin rebounded by over 15% in the last 24 hours as it is now at $20,618 at the time of writing
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