Crypto Kid began creating crypto content at 14, and now he’s thinking of taking profits to buy a Ferrari to drive during the bear market. Efe Kelemci better known on YouTube as Crypto Kid is facing a pretty wild decision for an 18-year-old. Should he blow almost a million dollars on a sports car, or hodl? Im thinking, if this bull market is coming to an end, then maybe taking profit into a nice Ferrari could make sense just for passion, the Dubai-based crypto content creator and entrepreneur tells Magazine. Before you roll your eyes, the teenage crypto millionaire swears its about admiring the sports cars beauty, not flexing like a stereotypical flashy crypto bro. Read more
Institutions are exploring blockchain settlement, but they cannot move forward without system-level privacy, says ZKsync developer. Privacy tokens bucked the trend to surge in price and popularity during the recent market slump, but most of the discussion has centered on consumer-facing projects like Zcash. At the same time, banks and financial institutions have been exploring zero-knowledge (ZK) systems that enable private transaction flows on blockchains, a technology known for transparency and immutability. As Alex Gluchowski, CEO of Matter Labs, put it, “There is cypherpunk privacy, which is account-level privacy, and then there is institutional privacy, which is system-level privacy. Institutions need full visibility over their own flows while keeping that data private from everyone else.” Read more
Gianluca Di Bella claimed quantum computing already makes encryption and ZK-proofs vulnerable due to “harvest now, decrypt later” risks. Gianluca Di Bella, a smart-contract researcher specializing in zero-knowledge proofs, said the danger posed by quantum computing isn’t a distant concern; it’s a current one. Speaking to Cointelegraph at the UN City offices in Copenhagen, Denmark, Di Bella said he believes “we should migrate now” to post-quantum encryption standards. The reason, he explained, lies in so-called “harvest now, decrypt later” attacks, where data is collected and stored until future technology makes decryption possible. For instance, if the identity of a dissident in a totalitarian country is protected solely by encryption, they want to ensure that the data will remain safe for 10, 15, 20 or more years into the future. Di Bella said that practical commercial quantum computing might be 10 or 15 years away, but cautioned that “big institutions like Microsoft or Google might have a solution in a few ...
As of 2024, at least one-third of commercial banks were exploring or piloting tokenized deposits, according to a survey by the Bank for International Settlements. Leading financial institutions are continuing to explore blockchain technology to facilitate cheaper and faster institutional payments, signaling a growing interest in tokenization solutions. US investment bank JPMorgan and Singapore multinational banking group DBS announced Tuesday that they are developing a blockchain-based tokenization framework to enable onchain transfers between their deposit token ecosystems. The effort aims to set a new industry standard for cross-bank digital payments. The tokenization framework will allow the two financial institutions to facilitate instant payments around the clock, across both public and permissioned blockchain networks, providing their institutional clients with broader access to cross-bank onchain transactions. Read more
Argentina’s order against Hayden Davis marks the latest move in the $250 million Libra fraud probe now spanning courts in Buenos Aires and New York. Argentina’s federal judiciary ordered a freeze of assets belonging to US promoter Hayden Davis and two alleged intermediaries tied to the collapsed Libra token, deepening an investigation into one of Latin America’s biggest crypto scandals. The order, issued by Judge Marcelo Martínez de Giorgi, reportedly covers digital wallets, bank accounts and real-estate assets of Davis, Argentine operator Orlando Rodolfo Mellino and Colombian trader Favio Camilo Rodríguez Blanco. Prosecutors said the asset freeze was necessary to prevent any transfer of assets that could represent the proceeds of fraud, as investigators work to trace a money trail estimated to be $100 million to $120 million. Read more
Crypto wallets have evolved beyond asset storage into portable identity containers and self-custodial hubs, using zero-knowledge proofs. Opinion by: Eowyn Chen, CEO of Trust Wallet The world is changing. Fundamentals that are often taken for granted in the physical world are now becoming unified as the digital age begins. Identity, payments and access are now converging into one single location: a digital wallet. Wallets are becoming the bedrock layer for access to the modern digital world, just as a passport unlocks physical movement across the globe. Read more
XRP’s technical and onchain signals hint at a major breakout, with bulls eyeing a significant rally toward $5 by the year’s end. Key takeaways: XRP’s cup-and-handle breakout setup points to a potential rally toward $5 by year’s end. Onchain data mirrors June’s 75% surge amid rising ETF optimism. Read more
Transak’s latest licenses highlight the continued fragmentation of US state licensing as stablecoin payment firms push for nationwide access. Stablecoin payment company Transak has secured new state Money Transmitter Licenses (MTLs) in Iowa, Kansas, Michigan, South Carolina, Vermont and Pennsylvania, expanding its US footprint as regulatory fragmentation continues to define how crypto payment companies operate across the country, according to a Tuesday announcement shared with Cointelegraph. The approvals bring Transak’s total to 11 licensed states, including Arkansas, Delaware, Illinois and Missouri. Each license allows the company to legally process stablecoin transactions, transmit funds, and facilitate fiat-to-crypto conversions directly with users, without relying on intermediaries. In the US, MTLs allow companies to handle customer funds, execute value transfers and operate as regulated financial intermediaries under state supervision. Read more