BITCOIN

On March 8, Coinbase announced the launch of its Wallet-as-a-Service (WaaS) product. The WaaS product aims to “bring the next hundred million consumers into Web3 through a seamless wallet-onboarding experience.” The Coinbase WaaS offers wallet infrastructure application programming interfaces (APIs) to companies, enabling them to build their own custom Web3 crypto wallets. Coinbase’s Wallet-as-a-Service Aims to Simplify Onboarding Coinbase Global (Nasdaq: COIN ) has revealed a new addition to its suite of offerings and services: Wallet-as-a-Service (WaaS). In a Twitter thread, Coinbase stated that the WaaS “is a scalable and secure set of wallet infrastructure APIs, enabling companies to create and deploy fully customizable onchain wallets.” Additionally, the Coinbase wallet infrastructure provides “multi-party computation (MPC)” cryptography, which removes the need to manage a complicated 24-word recovery phrase. 1/ Today we introduce Wallet as a Service, making it easier for ...

Britain’s top financial regulator, the Financial Conduct Authority (FCA), has widened its crackdown on unauthorized cryptocurrency ATMs. “There are currently no crypto ATM operators registered with the FCA, which they must be to operate legally,” the regulator noted. FCA Cracks Down on Illegal Crypto ATMs Britain’s top financial regulator, the Financial Conduct Authority (FCA), announced Wednesday that it has taken further action against unregistered crypto ATMs in East London in collaboration with the Metropolitan Police, the largest police force in the U.K. The announcement followed a series of raids the FCA conducted in collaboration with the West Yorkshire Police on several sites suspected of hosting unregistered crypto ATMs around Leeds. According to the regulator: The FCA has used its powers to inspect several sites in East London suspected of hosting illegally operating crypto ATMs, as it continues its crackdown on the illicit sector. “Crypto products are not currently...

Nobel Prize winner Paul Krugman complained on Twitter Wednesday that he was experiencing issues with the centralized payment processor Venmo. His tweet was followed by a barrage of bitcoin supporters who insisted that Krugman was now realizing the importance of censorship-resistant payment systems. Krugman’s Experience Highlights the Growing Interest in Censorship-Resistant Payment Systems Nobel Prize winner and author Paul Krugman , who famously wrote in 1998 that “by 2005 or so, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s,” had issues with a third-party payment provider. On Wednesday, Krugman announced on Twitter that he was busy but needed to explain the situation. “Too busy to tweet. But not to vent,” Krugman said . “I’ve been using Venmo for years, but now it won’t allow me to make payments. I spent a long time in chat with representatives, and they told me that they can’t explain why — or fix it. The software has t...

Bitcoin moved below the $22,000 level on March 8, as markets continued to react to U.S. Fed Chair Jerome Powell’s testimony. Speaking in front of the Senate Banking Committee, Powell said he expected rates to be higher than initially anticipated. Ethereum has also slipped on the news. Bitcoin Bitcoin ( BTC ) dropped below $22,000 on Wednesday, following yesterday’s comments from U.S. Federal Reserve Chair Jerome Powell. Speaking yesterday, Powell stated that “the ultimate level of interest rates is likely to be higher than previously anticipated.” BTC /USD fell to a low of $21,964.99 earlier in today’s session, a day after residing at a peak of $22,421.42. Bitcoin chart by TradingView The move transpired following a breakout of a key support point at $22,300, which coincided with the relative strength index (RSI) falling from a floor of its own at 42.00. As of writing, the index is now tracking at 40.36, with a lower floor at 38.00 a possible target for bears. Should t...