Altcoin News by Thebittimes.Com

Source: Unsplash Venture capital investments in crypto companies hit its lowest level for the year in the third quarter, but still remains well above a 7-year average for the industry. According to data from Galaxy Digital, venture investments into the crypto space in the third quarter reached $5.5bn, still $2bn more than both the peak from 2021 and a 7-year average of crypto venture investments . “Despite the drawdown in broader VC investing, early-stage investing remains competitive and robust,” Galaxy wrote in a report on crypto venture capital. However, it also added that later-stage venture investing showed “notable weakness potentially due to the sustained bloated valuations.” Source: Galaxy Digital In terms of who attracted the most funding within the crypto industry, Galaxy pointed to startups founded in 2021 as the winners in the third quarter of this year. “The cohort led in deal count and came a close second in money investe...

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. The future of Visa and Mastercard may reside in the Metaverse. Both payment processing giants have made inroads in the virtual world , even though they may not use Ethereum for a broader rollout. In addition, other scalable networks provide viable opportunities to process payments for the Metaverse.  Visa & Mastercard Tap The Metaverse Everyone is paying attention to Web3 and where that technology will lead us. Some expect a big virtual world that breaks down the barrier between digital and real-world life. Others see it more as an entertainment space where they can hang out. Regardless of the vision, there will be a need to process payments. Moreover, not all payments need to be in cryptocurrency, either. Both Visa and Mastercard acknowledge the underlying potential of the Metaverse. Although these companies combin...

The crypto -verse has managed to veer into several industries across the globe. However, Bitcoin [BTC], the world’s first and largest crypto currency made its debut to address the shortcomings of traditional finance . Despite its capabilities, the asset was sidelined for the most part. Now, in a new turn of events, a crypto -based investment firm was looking to acquire a 268-year-old bank in Germany. As per a recent report, Bitcoin Group SE was considering buying Bankhaus von der Heydt, a German bank that was set up in 1754. It was brought to light that the value of the sale was about $19.6 million or €20 million. It should be noted that the bank has been trying to get acquired by multiple crypto firms for quite some time now. Back in March, BitMEX, the crypto-derivatives exchange was on the verge of purchasing the bank. However, things took a different turn as the exchange failed to garner a green signal from German financial regulator BaFin. Acquisition activities surr...

According to a general notice published in a government gazette, crypto assets are now treated as financial product s under South Africa’s Financial Advisory and Intermediary Services (FAIS) Act. Declaration of the crypto assets as financial product s means crypto asset service providers (CASP), such as exchanges, must apply for a license. Declaration Applicable to Any Digital Representation of Value Not Issued by Central Bank According to a recently published South African government gazette, crypto assets have been declared as financial product s under the country’s Financial Advisory and Intermediary Services (FAIS) Act. Signed by the Financial Sector Conduct Authority (FSCA) commissioner, Unathi Kamlana, the declaration became effective on October 19. This is an historic moment for South Africa: Today the Financial Sector Conduct Authority (FSCA) declared a crypto asset as a financial product under the FAIS Act. This Declaration was published in the Government Gazette...

Join Our Telegram channel to stay up to date on breaking news coverage The crypto industry was created in order to reach true democratization when it comes to governance, as well as true transparency when it comes to money. Nothing is ever on one person or entity to decide, and the communities run everything. However, Ethereum’s Vitalik Buterin believes that there are still cases when censorship should be tolerated. He said as much when he spoke about Ethereum’s solo validators, and he referenced their ability to choose not to include certain transactions. A hypothetical scenario threatens to turn ETH community into “morality police” The comment came in reply to a Twitter poll regarding a scenario where validators might choose to censor transactions that do not align with their personal beliefs. Essentially, the discussion was about what should happen to such validators. The user who posted the poll, latetot.eth (@latetot), gave an example — if ...

Join Our Telegram channel to stay up to date on breaking news coverage As the all-time highs from the previous two-year bull market fade and a new bear market appears to be settling in, only talented individuals with strong convictions will be able to find the motivation to devote themselves full-time to Web3, blockchain, and crypto. Many curious professionals with an interest in disruptive technology have flirted with the idea of working for startups in the space during the good years of a rising crypto market. Because there are a limited number of people with the experience required to navigate this fast-paced industry and willing to embark on a new project, the demand for talent usually outpaces the supply. Bull markets attract talent and educate newcomers about what can be accomplished with this disruptive technology. Bear markets put even the most steadfast minds to the test, rewarding those who are patient enough to wait. As the industry expands over time, more talent wi...

Source: AdobeStock / Diego   After major crypto exchange Binance said that it would cease trading Helium Network Token (HNT), the Helium Foundation COO reportedly stated that “there is no basis” for doing so and that the coin meets all the standards set by the exchange. Four days ago, Binance announced that it would “remove and cease trading” certain spot, cross and isolated margin pairs, specifically HNT/BTC, HNT/BUSD, HNT/USDT, and OOKI/BNB. Cross and isolated margin borrowing got suspended just a day later, on October 7, while all users’ positions will be closed, an automatic settlement conducted, and all pending orders cancelled on October 12. “We will then delist the HNT/BUSD and HNT/USDT cross and isolated margin pairs,” the exchange said. The announcement, however, did not provide any specific explanation for its decision. Binance spokesperson Jessica Jung was quoted by Forbes as saying that the exchange period...