Crypto-friendly e-commerce giant Shopify has launched a suite of blockchain commerce tools to enhance the user experience of their web3-focused stores hosted by the platform. Announcing the move via Twitter on Feb. 9, Shopify blockchain team designer @ryancreatescopy noted that “we've launched some fresh tools to help you buidl tokengating apps for Shopify merchants.” In particular, expanded crypto wallet connect features and “tokengating” application programming interface (API) tools have been highlighted. The latter has been in early access beta access mode since June 2022 and was previously only available to a select number of merchants. With tokegating, all applicable Shopify …

Citing sources familiar with the matter, the Journal reported that financial services company Cantor Fitzgerald is helping Tether oversee a $39 billion bond portfolio comprised of United States Treasury securities. The report indicated that some firms on Wall Street are willing to support crypto service providers despite ongoing regularity concerns facing the industry. Founded in 1945, Cantor Fitzgerald specializes in investment banking services, including institutional equity and fixed-income sales. The company claims to employ over 12,000 people. Beyond helping to “manage” a portion of Tether’s portfolio, Cantor Fitzgerald’s specific involvement with the stablecoin issuer wasn’t spelled out in the Journal’s …

Remember when Sam Bankman-Fried admitted to being a significant donor to the Democratic and Republican parties? Well, the recipients of the tainted money have been formally requested to return the funds to FTX’s creditors. So far, we know of three prominent Democratic groups — the DNC, the Democratic Senatorial Campaign Committee and the Democratic Congressional Campaign Committee — that have returned SBF-linked donations in December 2022. Will the rest follow? As FTX seeks clawbacks, the Digital Currency Group and its bankrupt subsidiary, Genesis Global Trading, have agreed to a restructuring plan. The good news is that Genesis account holders will …

The DAO that governs privacy-focused blockchain Secret Network (SCRT) has voted to restructure its Secret Foundation as a non-profit with a “transparent operation,” according to the proposal’s official page. Congrats to the #SecretNetwork community! The Secret Foundation has been restructured as an NPO, with a community-elected board & amendments requested by the founder. #blockchain #cryptocurrency — Krypton AI (@KryptonAi) February 10, 2023 The proposal stated that the new foundation “will be registered as an NPO [non-profit organization] and provide an annual account of its activities, including key performance indicators (KPIs), budgets, and goals.” The foundation will be run by a …

On Feb 10, Cryptocurrency exchange Binance announced a major upgrade to its Proof of Reserves Verification system to include zk-SNARKs — a cutting-edge technology that Binance says will allow it to verify its reserves in a more secure and transparent manner. 3. Product and Service. Plus transparency. The #Binance Proof of Reserve system has now integrated with zk-SNARK, a zero-knowledge verification method. It will also be made open source. We hope this would help the entire industry benefit. https://t.co/ijVVeF8iFT — CZ Binance (@cz_binance) February 10, 2023 After the FTX incident in 2022, Proof of Reserves Verification became a crucial aspect …

The merger of Web2 and Web3 tools continues as crypto-backed debit cards become more mainstream. In an announcement on Feb. 10, Bit2Me, the largest Spanish cryptocurrency exchange, revealed its new cashback debit card in partnership with Mastercard. The original Bit2Me card works for its users via the Mastercard network that hosts millions of businesses worldwide. This new update offers users up to 9% crypto cashback for all purchases made with the card online or in-store. Leif Ferreira, the CEO and co-founder of Bit2Me, told Cointelegraph that the use of already known Web2 financial tools like debit and credit cards comes …

Amid Coinbase cryptocurrency exchange standing up for crypto staking and economic freedom, the online community has urged the company to support XRP as well. On Feb. 9, Coinbase’s chief legal officer Paul Grewal claimed that Coinbase's staking program is not affected by rival exchange Kraken shutting down its staking services. The executive argued that Kraken’s staking platform was “essentially offering a yield product,” while Coinbase’s staking services are “fundamentally different and are not securities.” Coinbase CEO Brian Armstrong also took to Twitter on Thursday to declare that the exchange will continue to oppose the government when it comes to protecting …

The launch of the exchange project backed by the bankrupt hedge fund Three Arrows Capital (3AC) attracted a mob of angry community members who took to Twitter, expressing their disappointment with the state of the crypto space. Open Exchange, a crypto exchange project that was initially proposed by 3AC and Coinflex, launched a website and opened a waitlist on Feb. 9. 3AC founder Zhu Su pointed out that the project is a way to atone for their past mistakes. However, many members of the community were enraged by the launch. One community member questioned the name of the exchange and …

Paxos Trust Company — the New York-based stablecoin issuer behind Binance USD (BUSD) and Paxos Dollar (USDP) — is reportedly being investigated by the New York Department of Financial Services (NYDFS). A “person familiar with the matter” told Bloomberg in a Feb. 10 report that the exact motive behind the probe is currently unclear. An NYDFS spokesperson declined to comment on ongoing investigations but noted that the department is broadly working to protect consumers from risks associated with investing in the cryptocurrency market: “The department is in continuous contact with regulated entities to understand vulnerabilities and risks to consumers and …

Swiping right in the metaverse Famous New York socialite, Paris Hilton thinks the Metaverse may be the perfect place to find one’s true love. In a Feb. 9 tweet, the celebrity and reality TV star said she will be working with The Sandbox (SAND) to bring “Parisland” to life. The idea is essentially a Virtual Reality (VR) dating experience crossed with a reality dating show and is slated for a Feb. 13 release in time for Valentine’s Day. Get ready to party on the beach, pick up cute collectibles and explore my newest tropical Parisland metaverse! I'm launching a new …

Bitcoin (BTC) mining firm CleanSpark is planning to continue its strategy of scooping up distressed mining company assets this year. The Bitcoin miner released its fiscal Q1 earnings presentation on Feb. 9, where the company said it remained optimistic about the coming year and continued growth. Chief Financial Officer, Gary Vecchiarelli, said CleanSpark has seen “explosive growth” in the last 12 months and feels very comfortable with its plans. He added that growth in terms of mergers and acquisitions would continue into 2023. “With respect to our strategy regarding M&A, we have been one of the most active miners to …

Members of the crypto community are seemingly outraged over the recent charges laid against crypto exchange Kraken in relation to its staking-as-a-service program in the United States. On Feb. 9, the United States Securities Exchange Commission (SEC) announced it had settled charges with Kraken over “failing to register the offer and sale of their crypto asset staking-as-a-service program,” which it claims is qualified as securities under its purview. Kraken agreed to settle the charges by paying $30 million in fines and to immediately cease the staking services to U.S. retail investors, though it would continue to be offered offshore. The …