A double-edged sword? Once-famous brands are getting into crypto
As more defunct companies try to cash in on their former glory by using various crypto avenues, experts are divided if this is really good for the industry. There is no denying the fact that the crypto adoption wave sweeping the globe right now has resulted in a growing list of defunct brands making their way into the digital asset market in recent months. Just two weeks ago, once popular music platform LimeWire announced that it is going to be making a comeback, albeit as a marketplace for nonfungible tokens (NFTs) rather than a file-sharing service. LimeWire’s return seems to largely be....
Related News
The bull market effect has made Know Your Customer regulation more important than ever for cryptocurrency exchanges. During 2017’s bull market, most crypto services lacked the proper Know Your Customer and Anti-Money Laundering measures. Even in 2020, 56% of the analyzed 800 cryptocurrency exchanges and over-the-counter trading desks followed weak KYC practices, according to a CipherTrace report. However, the current digital asset rally has turned the crypto market upside down.As a result, KYC and AML have become top priorities for cryptocurrency providers, with many industry players....
For traders, volatility is a double-edged sword that can lead to vast riches or immense losses. Crypto traders are particularly susceptible to volatility due to the low liquidity in some projects, and the high concentration of some cryptocurrencies in the hands of individual whales. 2022 could prove to be one of the most volatile years […]
XRP’s price action throughout the past few months, and even years, has been nothing more than lackluster, with the token still trading down over 90% from its all-time highs while failing to garner any widespread adoption. The token’s close ties to FinTech company Ripple has been a double-edged sword for its performance. On the one […]
Shiba Inu (SHIB) price is once again at a crucial crossroads. Currently, it’s down a staggering 91% from its all-time high (ATH) of $0.00008845, recorded in October 2021. Over the past year, the token has been on a consistent downtrend, marking lower highs and lower lows on the monthly time frame. But all is not bleak for SHIB investors. The recent relaunch of Shibarium, a layer 2 blockchain, is a beacon of hope. This move is seen as Shiba Inu’s attempt to transition from its meme coin status to a more serious player in the crypto world, aiming to enable applications for....
The rise of crypto-related crimes and money laundering cases is the result of the increasing mass crypto adoption. The modern world has become too small for comfort. The truth is that technological advancement is a double-edged sword, which has the potential to enhance human lives drastically at many levels and disrupt them in the blink of an eye, shaping things on a global level to an extent yet not seen. Even though we enjoy fast progress in crypto services and digital asset fields, constant security breaches and hacks pose a severe threat to market participants. The very essence of....