Ethereum layer-2 scaling protocol Polygon (MATIC) is carrying out performance testing of zero-knowledge rollup (zk rollups) technology ahead of full integration with its mainnet. The development of the technology, called Polygon zkEVM (Ethereum Virtual Machine), has been ongoing for over three years by the Polygon Hermez team. The team has already confirmed that zero-knowledge proofs are possible on Ethereum, by […]

Financial technology firm PayPal’s international money transfer service, Xoom, has announced a new product that lets users in the United States send money directly to Visa debit card users.  In a recent announcement, PayPal mentioned that Xoom partnered with financial services firm Visa, allowing debit card holders to receive funds directly from Xoom. The feature is available in 25 countries, […]

The Singapore-based troubled crypto lender is looking at a possible liquidation as the firm’s creditors have rejected the proposed restructuring plan and are seeking liquidation of the platform’s assets. The group of creditors rejected a restructuring plan offer that allowed the current directors to look over the operations of the firm during the restructuring phase. However, a Jan. 12 hearing […]

The U.S. Securities and Exchange Commission (SEC) has filed charges against Genesis Global Capital LLC and Gemini Trust Company LLC for unlawfully offering securities to a large number of investors through their cryptocurrency lending program. Genesis and Gemini In Trouble With The SEC According to the SEC, in December 2020, Genesis (a subsidiary of Digital Currency Group) and Gemini entered […]

The co-founder and CEO of Crypto.com, Kris Marszalek, has announced a new wave of staff layoffs that will reduce its global workforce by another 20%, citing poor market conditions and “recent industry events.” “Today we made the difficult decision to reduce our global workforce by approximately 20%,”  Marszalek said in a company update on Jan. 13. “All impacted personnel have already […]

Crypto payment platform Wyre has lifted the 90% withdrawal limit it placed on its users earlier this week after securing additional funding.  On Jan. 13, the San Francisco-based fintech firm announced that it had received financing from a “strategic partner” that allows it to continue the normal course of operations, including re-accepting deposits again. “As a regulated financial institution, we’re […]

Tyler Winklevoss, the co-founder of cryptocurrency exchange Gemini, has hit out at the regulator charging the exchange over issuing unregistered securities, calling the allegations “super lame” and a “manufactured parking ticket.” In a series of tweets on Jan. 12, Winklevoss shared his disappointment over the charges from the Securities and Exchange Commission (SEC) regarding Gemini’s “Earn” program, claiming the regulator […]

Economists at the Bank of International Settlements (BIS) took a look at the risks inherent in the crypto ecosystem and came up with a seemingly novel solution. “Develop an alternative,” they advised in a bulletin released Jan. 12. What they had in mind was central bank digital currency (CBDC).  The authors of the bulletin, headed by BIS senior economist Matteo […]

On this week’s episode of Market Talks, Cointelegraph welcomes Justin Kramer, CEO of Badgerland Home Crypto Mining — a home-based crypto mining equipment business. This week, to kick things off, we get to know a little bit about Kramer and his mining business. What are his expertise and experience with crypto mining, and how did he gravitate toward it? We […]