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FCF Pay’s X account has been suspended amid circulating misreporting about its “partnership” with Honda, which has never happened. Major automobile manufacturer Honda does not accept cryptocurrency payment s directly but one can use cryptocurrencies like Bitcoin (BTC) to buy a Honda car through a third party . In early October, several publications mistakenly reported that Honda started accepting cryptocurrency as payment. But Honda doesn’t allow one to purchase its cars in exchange for crypto, a spokesperson for the firm told Cointelegraph, stating: “American Honda does not accept cryptocurrency as payment. The recent reports regarding a change to this policy are incorrect.” Honda didn’t respond to additional questions on its stance on crypto or whether the company is planning to integrate cryptocurrency payment s in the future. While direct crypto payments for Honda automobiles aren’t available, one can still use cryptocurrency payment platforms like FCF Pay to buy a Honda car. Acco...

A report from the Bitcoin-only exchange River suggests increased Lightning usage will play a key role in Bitcoin becoming a better medium of exchange. Bitcoin’s layer 2 Lightning Network has seen an estimated 1,212% growth in two years , with around 6.6 million routed transactions in August, a significant jump compared to August 2021’s 503,000 transitions, according to data from the Bitcoin (BTC)-only exchange River. In an Oct. 10 report, River research analyst Sam Wouters explained the jump in routed transactions — which use more than two nodes to facilitate a transfer — came despite a 44% fall in Bitcoin’s price and considerably less online search interest. “‘Nobody is using Lightning’ should now be a dead meme,” Wouters said in an Oct. 10 follow-up X (Twitter) post, taking a shot at Lightning critics. “Nobody is using Lightning” should now be a dead meme. Launching a new #Bitcoin report from @River: How the Lightning Network grew by 1212% in 2 years It’s time to pay attention to ...

SBI Holdings will work with UAE firm TradeFinex on a Japanese joint venture aimed at boosting adoption of its enterprise blockchain platform running on the XDC Network. SBI Holding and TradeFinex will look to drive trade finance adoption of EVM-compatible enterprise blockchain XDC Network through a new joint venture in Japan. UAE-based firm TradeFinex operates its own decentralized platform operating on the XDC Network for trade finance originators to connect to a variety of banks and lending institutions. Aimed at enterprise use cases, TradeFinex is primarily focused on providing blockchain-based trade finance products including invoicing, letters of credit, purchase order finance and supply chain finance. A visual representation of TradeFinex's trade finance stack. Source: TradeFinex. The XDC Network is an EVM-compatible layer 1 network that Features interoperable smart contracts. Its documentation describes the protocol as a “highly optimized, bespoke fork” of Ethereum that...

Ibiza’s vibrant nightlife is preparing for a new era of clubbing driven by the transformative power of blockchain technology. While it may seem counterintuitive initially, the crypto market has much to offer to night clubs and festivals. The symbiosis between these two ecosystems is already unfolding in Ibiza — a Spanish island known for its night life and electronic music events in the summer. Ibiza’s journey to Web3 Ibiza aims to become a crypto island by embracing the Web3 trend. It aims to connect local artists, nightclubs and festival operators with a global audience and educate the community on the benefits of blockchain. Local nightclubs and venues are looking to leverage blockchain to create unique experiences. Ibiza has already recorded several NFT milestones in its history, starting with the Amnesia Ibiza NFT Medallions in 2021, which will give lifetime VIP access to the Amnesia club, followed shortly by DJenerates Klub, the first NFT collection immortalizing the iconic fi...

Bitcoin Ordinals inventor Casey Rodarmor says a fungible token protocol like Runes wouldn’t leave as much “junk” on the Bitcoin network as that of BRC-20 tokens. The inventor of Bitcoin Ordinals is proposing a new Bitcoin-based fungible token protocol as a potential alternative to the BRC-20 token standard. The BRC-20 standard was launched in March by an anonymous developer “Domo.” Within two months, the BRC-20 market cap reached $1 billion, with PEPE and ORDI among the most notable BRC-20 tokens created on Bitcoin. New terrible idea just dropped: Runes. A worse-is-better fungible token protocol for Bitcoin.https://t.co/TPVrUvWxm8 — Casey (@rodarmor) September 25, 2023 BRC-20 enables the minting and transfer of fungible tokens via the Ordinals protocol on Bitcoin. But the issue with BRC-20 tokens is that they spam Bitcoin with “junk” Unspent Transaction Outputs or UTXOs, argued Rodarmor. BRC-20 tokens have the “undesirable consequence of UTXO proliferation,” he explained in a...

A network of 35,000 sound sensors via smartphones was deployed on the peaq ecosystem to collect hyper-local noise pollution data for wellbeing. The Silencio Network has over 35,000 smartphones working as noise sensors via the Peaq blockchain ecosystem in an effort to combat the issue of global noise pollution . On Sept. 19, the Silencio Network announced its integration with Peaq as it continues to expand its reach to include more noise sensor devices. Silencio reports that the noise sensors working in its network cover 176 countries, and anticipates working on one million devices by next year. The project calls its work “Web3 citizen science” in which community members receive tokenized rewards for providing “hyper-local” noise pollution data. Cointelegraph spoke with the two co-founders of Silencio, brothers Thomas and Theo Messerer, about the reason behind tokenizing sound data. Thomas said the “seed” for the idea was planted over 20 years ago. Growing up with a hearing-i...

Understand how companies reorganize amid financial challenges to ensure business continuity via Chapter 11 bankruptcy. In the complex world of finance and business, bankruptcy serves as a crucial mechanism that allows struggling companies to reorganize and regain financial stability.  One of the most well-known forms of bankruptcy is Chapter 11, a legal process in the United States that grants businesses the opportunity to restructure their operations while protecting them from creditors’ immediate demands. This article delves into the intricacies of Chapter 11 bankruptcy , its objectives, procedures and notable examples within the realm of the cryptocurrency industry. Chapter 11 bankruptcy, explained Chapter 11 bankruptcy, often referred to as “reorganization bankruptcy,” provides companies, both large and small, with the chance to rehabilitate their financial health while keeping their operations intact. This chapter allows a debtor (the company) to propose a plan that outlines ho...

The crypto community has gathered to celebrate the recent ruling on XRP's securities status, but lawyers warn there's more to it than meets the eye. Ripple Labs’ split-decision victory against the United States securities regulator is being seen as a significant blow to the regulator’s “war on crypto,” however, crypto lawyers warn it isn't a definitive victory for the industry or the firm y In a landmark ruling on July 13, Judge Torres determined that XRP (XRP) is not a security — at least when sold to the general public. The decision was met with a joyous uproar from XRP token holders and came with a massive surge in the token's price, with industry heavyweights lauding the decision as likely to aid crypto exchanges Coinbase and Binance in their respective lawsuits. Luke Martin, the founder of crypto investment firm Venture Coinist noted that the “core component” of the United States Securities and Exchange Commission's (SEC) claim in its suits against Binance an...

The United Nations Internet Governance Forum (IGF) and the Government Blockchain Association (GBA) have announced a new partnership to standardize blockchain and cryptocurrency.  The partnership will introduce the Dynamic coalition on blockchain assurance and standardization. It will use the GBA’s maturity model to promote blockchain adoption and ensure network interoperability. Moreover, the Dynamic coalition on block chain assurance and standardization will focus on promoting block chain use across various industries, including artificial intelligence, supply chain , economic development, environmental stewardship, communication and infrastructure, and digital identity.  You might also like: Arkham launches on-chain crypto data and blockchain intelligence marketplace, receives mixed reaction Notably, a 2022 report from Chainalysis highlighted the growing prominence of block chain and cryptocurrencies on the global scene. It emphasized the rapid adoption rate obser...

The number of Portuguese people investing in crypto currencies like bitcoin and ethereum has been gradually increasing, reaching around 268,000 individuals recently, according to Triple-A, a digital currency payment facilitator. However, compared to the global population, the interest of the Portuguese public in crypto investments is only half as strong. Crypto assets have gained much attention worldwide, with over 420 million crypto investors. Triple-A’s data shows that more Portuguese people would benefit from crypto currency investments if they had access to such opportunities. When looking at the percentage of the population holding crypto assets, the United Arab Emirates stands out, with 27.67% of its people engaged in crypto holdings. In terms of absolute numbers, India has the highest number of crypto adopters, with 103 million individuals, accounting for 7.10% of its population. China follows with 58 million investors (4.08% of the population), and the United States...

Just days after buying $21 million of Coinbase shares, ARK Invest CEO Cathie Wood has added another $19.9 million in Block Inc. shares across its ETFs. ARK Invest CEO Cathie Wood doesn’t appear to have been swayed by recent crypto regulatory action, after buying another $19.9 million shares of Block Inc. right after buying $21 million of shares in Coinbase. Wood’s latest buying spree comes despite the United States Securities Commission suing two of the industry’s exchange heavyweights — Binance (June 5) and Coinbase (June 6) for offering what the regulator considers to be unregistered securities, among other things. Coinbase's share price has been depressed in the days following the SEC lawsuit, however, Block Inc.'s shares saw a sharp rise in that same time period. ARK Invest’s 305,573 new shares of Block came across six buys between June 7-8, which now represents ARK’s fourth largest holding at 4.81%, according to ARK Invest Daily Trades. Of the new shares , 240,174 were ...

DeFi saw another multimillion-dollar rug pull this past week, and the Multichain saga continues to spiral out of control. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. After a bullish April, May was another month of exploits , rug pulls and hacks, bringing back uncertainty to DeFi. The most prominent headline marker in the past week was the Multichain protocol. The cross-chain DeFi protocol’s delayed node upgrade created a spiral impact and tanked its token price by 30%. The Multichain protocol saga impacted multiple DeFi protocols, forcing Binance to suspend deposits for ten bridged tokens on May 25 after days of stuck transactions. Multichain aside, the week was dominated by hacks, exploits and rug pulls. A crypto project allegedly ran off with $32 million of customer’s funds, DeFi protocol WDZD Swap was exploited for $1.1 million, and a bug...

Popular entrepreneur and VeeFriends creator, Gary Vaynerchuck, shared his thoughts on NFT tickets, VeeCon 2024, cryptocurrency and blockchain adoption at VeeCon 2023. Famous entrepreneur Gary Vaynerchuck — also known as Gary Vee — is a long-time supporter and collector of nonfungible tokens (NFTs). In May 2021, Vaynerchuck announced the launch of his VeeFriends NFT collection, which consisted of 10,255 unique tokens to give holders access to exclusive events. Shortly after launching the VeeFriends collection, Vaynerchuck demonstrated the potential behind NFT tickets during VeeCon 2022 — a Web3-focused conference built around NFTs, pop culture, entrepreneurship and marketing. Attendees of VeeCon 2022 needed to hold at least one VeeFriend Series 1 NFT to access the event. Based on the success of this model, Vaynerchuck moved forward with NFT-based tickets for VeeCon 2023, which was held from May 18–20 in Indianapolis, Indiana. The event organizers told Cointelegraph that VeeCon 2023 att...

With the rapid development of decentralized finance and blockchain technology, financial inclusion is closer than ever. In the late 2000s, the Global Financial Crisis (GFC) unleashed a tsunami of economic turmoil that reverberated around the world. Not only did it shake the deeply-rooted beliefs of centralized finance (CeFi) and institutions, but it also witnessed the demise of banks and businesses as stocks plummeted and international trade took a deadly plunge. Needless to say, the GFC shed light on the fundamental shortcomings of the existing financial system and further emphasized the need for financial sovereignty. In the wake of this crisis that shook the world, the pseudonymous creator Satoshi Nakamoto launched Bitcoin (BTC), the world’s first and original cryptocurrency, providing the opportunity for anyone to access a form of finance outside of CeFi. Financial inclusion Bitcoin, released as open-source software in 2009, was the first decentralized cryptocurrency. Source: Unsp...

A Bitcoin-only policy organization in the United Kingdom seeks to steer a course for greater levels of Bitcoin adoption. God save our gracious coin, long live the coin. A team of entrepreneurs, environmentalists and Bitcoin (BTC) advocates have assembled to back Bitcoin in Britain. The Bitcoin Policy U.K. (BPUK) unites stakeholders, policymakers, environmentalists, tax specialists, Bitcoin experts and miners to “Unlock the potential of Bitcoin” in Britain, and explore how the decentralized currency’s burgeoning industry could benefit U.K. households, businesses, and communities. The BPUK’s primary objectives are to drive investment, both generate and prepare students for the Bitcoin jobs of the future, raise awareness and education , while also exploring the use of wasted and stranded energy resources for Bitcoin mining. Head of policy, Freddie New, told Cointelegraph that “The genesis of this project was the Bitcoin Collective Conference in Edinburgh.” The Bitcoin Collective confere...

During Metaverse Fashion Week 2023, the augmented reality platform — Over — projected a larger-than-life virtual catwalk over one of Milan’s most prominent locations. The second annual Metaverse Fashion Week (MVFW) hit the virtual runway this year from March 28–31 via a collaboration between Spatial — a 3D social network platform — and Over, a blockchain-based Augmented Reality (AR) platform. This year’s event saw over 60 brands , including legacy names such as Dolce & Gabbana, Tommy Hilfiger, DKNY and Gucci. Similar to the last year, the event combined digital runways, panels from industry thought leaders and designers, and after-parties. However, one of the main attractions occurred on the event's last day, March 31, when a hybrid AR runway from Over was cast across the Piazza of Duomo di Milano — one of Milan’s most iconic locations. Guests of watching an AR fashion show on the  Piazza of Duomo di Milano. Source: Over Diego Di Tommaso, the co-founder and chief operating off...

Polygon partners with Wakwelli, a web3 infrastructure protocol that issues certificates of authenticity for non-fungible tokens to certify NFT originality. Wakweli, a web3 infrastructure protocol that issues certificates of authenticity for non-fungible tokens (NFT) has officially collaborated with Polygon, a blockchain platform that enables blockchain networks to connect and scale to make NFT authentication possible. The partnership between Polygon and Wakweli means that all digital assets on Polygon will be compatible with Wakweli's certification system. According to the announcement, every NFT project holder on the Polygon chain will also be able to request authenticity certificates for each of their assets. The collaboration generally aims at enhancing the security of the digital ecosystem. In response to the cost of the certificate authentication for users, Antoine Sarraute, Co-Founder of Wakweli, told Cointelegraph that staking WAKU — the utility token of Wakweli — is neces...