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Binance and Bahrain’s EazyPay Join Hands To Expand Crypto Payments

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Binance is expanding into the Middle East. EazyPay, located in Bahrain, has teamed up with Binance Pay to introduce the first regulated and authorized cryptocurrency payment service in the Kingdom.

Nayef Tawfiq Al Alawi, the founder, MD, and CEO of Eazy Financial Services revealed in a LinkedIn post that customers may now use the Binance App to pay in stores using any chosen cryptocurrency.

A Bahraini financial institution called “EazyPay” specializes in online payment gateways and point-of-sale (POS) systems. The Central Bank of Bahrain issues licenses and regulates the purchase of services.

Customers can use Binance Pay in over 5,000 terminals

In the Kingdom of Bahrain, the firm will be able to accept cryptocurrency payments using “Binance Pay” as opposed to “EazyPay” on more than 5000 point-of-sale (POS) terminals.

In keeping with its ongoing efforts to deepen its interactions with both merchants and customers as part of its engaged innovative strategy, EazyPay has formed a strategic partnership with CZ’s exchange to introduce cryptocurrency payments using the Binance app.

This expansion of its acceptance product portfolio with the most cutting-edge and innovative payment method in the Kingdom of Bahrain complements EazyPay’s ongoing efforts to strengthen those relationships.

Customers can pay at merchants’ stores in “Real-Time” with crypto by merely scanning the generated QR from Eazy’s POS using the App and paying with their preferred cryptocurrency.

Merchants like Lulu Hypermarket, Sharaf DG, and Al Zain Jewelry as well as local favorites like Jasmi’s will be able to accept 70+ cryptocurrencies from “Binance Pay” customers thanks to “EazyPay.”

The collaboration between the exchange and EazyPay, which is once again a tribute to Bahrain’s advanced regulatory environment and banking structure, is founded on a shared aim to simplify product offerings for merchants and customers using best-in-class technology.

“Our strategic partnership between “EazyPay” and “Binance” is a historic regional & local milestone for both companies in the payment field. And Thanking the Central Bank of Bahrain for their support towards launching this product, which empowered Eazy to provide its valued merchants & customers with competitive and innovative payment services, which cements Eazy’s position as the leading POS & Online payment gateway provider in the Kingdom of Bahrain.”

Nayef Tawfiq Al Alawi, CEO of Eazy Financial Services

JPMorgan CEO criticizes crypto yet again; Calls them Ponzi schemes

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The CEO of JPMorgan had previously referred to Bitcoin as “fraud” and stated that he had no interest in the sector. Given Dimon’s prior comments on Bitcoin, this was not unexpected.

At the most recent hearing, it was mentioned how important blockchain and decentralized finance are. Even smart contracts were added to the list by him. However, he did not seem to think much of cryptocurrency.

Over the course of its existence, the crypto-verse has accumulated a great deal of hatred. Nobody has refrained from criticizing Bitcoin (BTC), not even government officials or the average person. Despite everything, the sector managed to grow into a trillion-dollar organization. The cryptocurrency market is a highly sought-after sector with adoption at its peak. Despite its growing trend, there is still opposition and criticism. This time, Bitcoin was criticized in front of the US Congress.

Jamie Dimon, the CEO of JPMorgan Chase, has long been skeptical of cryptocurrencies. He has repeatedly stated that he is not a huge supporter of Bitcoin. Dimon was undoubtedly living the life he preached. Dimon recently referred to Bitcoin and other cryptocurrencies as a Ponzi scheme during testimony before the House Financial Services Committee. He added,

“I’m a major skeptic on crypto tokens, which you call currency, like Bitcoin. They are decentralized Ponzi schemes.”

Given Dimon’s prior comments on Bitcoin, this was not unexpected. The CEO of JPMorgan had previously referred to Bitcoin as “fraud” and stated that he had no interest in the sector.

At the most recent hearing, it was mentioned how important blockchain and decentralized finance are. Even smart contracts were added to the list by him. However, he did not seem to think much of cryptocurrency.

JPMorgan’s cryptocurrency love graph declines

It appears that important JPMorgan Chase employees weren’t really pleased with the cryptocurrency sector. Takis Georgakopoulos, the company’s worldwide head of payments, said earlier this week that cryptocurrency has “a narrow use case.” In addition, he noted that over the previous six months, the demand for cryptocurrency for payments had drastically decreased. The introduction of bears is thought to be the cause of this.

He went on to say,

“When it comes to crypto as a payment method, we saw a lot of demand [from] our clients, let’s say up until six months ago. We see very little right now.”

Georgakopoulos mentioned the transformative nature of blockchain technology once more. As a result, the community predicts that JPMorgan will continue to place significant bets on blockchain technology while avoiding cryptocurrency.

Terra’s Do Kwon: Crypto Community “Has No Business” Knowing His Location

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Terra’s founder Do Kwon took to Twitter to address some of the issues after reports began to circulate that he was on the run evading arrest from authorities. He then criticized the cryptocurrency industry, claiming that they have “no business” knowing where he is.

I am not “on the run” or anything similar – for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide.

Reuters recently reported that the beleaguered founder of the Terra blockchain was no longer in Singapore.

Denying that he fled, the co-founder stated that his team is in the process of defending itself in multiple jurisdictions. “We have held ourselves to an extremely high bar of integrity, and look forward to clarifying the truth over the next few months.”

A South Korean court issued an arrest order for Kwon and a few other people earlier this week.

It is worth noting that South Korea doesn’t hold an extradition treaty with Singapore and, according to Bloomberg, Singapore police are willing to assist their South Korean counterparts.

The speculative rally for Terra tokens was temporarily halted by the news. According to allegations, the co-founder of the Terra project, which collapsed back in May, broke capital market regulations.

Do Kwon, the co-founder, and CEO of Terraform Labs is accused by South Korean prosecutors of defrauding investors by issuing LUNA and USTC without warning them of the risk that the price of both could fall at the same time.

Terra Troubled Founder May Lose His Passport

A few days ago, local media claimed that Kwon’s passport cancellation process had been initiated by South Korean officials. The founder of Terra would thereafter be considered an “illegal alien.”

Kwon maintains his defiance despite rising legal issues.

The founder also faced a sea of wrath over Terra‘s blowout with some asking for his immediate arrest after the fiasco. Even international hacker group Anonymous vowed to “make sure” Do Kwon is “brought to justice as soon as feasible,” back in June.

The self-proclaimed hacktivist released a video that showed a list of Kwon’s alleged wrongdoings. These include his purported $80 million monthly withdrawals from UST and LUNA before the crash and his role in the demise of the stablecoin Basis Cash, which the terra founder is alleged to have created in late 2020 under the alias “Rick Sanchez.”

Dogecoin Earns 2nd Largest Proof-of-Work Crypto Title as Merge Completes

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Dogecoin (DOGE), which is modeled on the popular “doge” Internet joke, is symbolized by a Shiba Inu. The open-source cryptocurrency was developed by Billy Markus in December 2013 and split off from Litecoin.

DOGE initially circulated as a humorous internet joke. Long before the coin gained popularity, the program’s original developer stopped working on it and sold his coins.

On Reddit and Twitter, it was initially used to tip artists. The real DOGE success only emerged once Elon Musk started talking about it. The coin uses proof-of-work as of right now. Many people have criticized PoW for its energy-centric nature.

Now that Ethereum transitioned to PoS, Dogecoin earns a new title.

Dogecoin is the second largest PoW crypto

Following the update to the Ethereum network’s proof-of-stake protocol on September 15, Dogecoin (DOGE) is currently the second-largest proof-of-work (PoW) cryptocurrency in terms of market value.

DOGE, a popular memecoin, is still comfortably ahead of the third-place PoW cryptocurrency Ethereum Classic (ETC), which has a market cap of $4.69 billion, as well as Litecoin (LTC), which has a market cap of $4.01 billion, and Monero (XMR), which has a market cap of $2.65 billion. Of course, Bitcoin (BTC) continues to be far ahead of Dogecoin, which has a market cap of $7.

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Dogecoin Earns 2nd Largest Proof-of-Work Crypto Title as Merge Completes 2

However, DOGE could also soon find itself in a race with ETHPoW, which is presently trading at $13.64 and is the Ethereum PoW hard fork chain that will resume mining.

The move by Ethereum to a PoS consensus mechanism may have mounting tension on PoW-powered crypto networks to make a similar move.

The Dogecoin Foundation has been discussing moving DOGE to a proof-of-stake algorithm since Vitalik Buterin, the co-founder of Ethereum and adviser to the Dogecoin Foundation, initially suggested it in September 2021. The proposed transition will earn DOGE quite some popularity in the crypto space.

BTC, DOGE and Other Crypto React as Numera Predicts 100BPS Rate Hike

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The biggest cryptocurrencies have continued to plummet, as the price of Bitcoin (BTC) fell to $20,600354. The increased weakening of Bitcoin has been devastating for cryptocurrencies like Dogecoin (DOGE), Cardano (ADA), XRP, and others.

Early on Tuesday, cryptocurrency prices fell precipitously as a result of higher-than-expected consumer price index (CPI) statistics.

The market anticipates that the US Federal Reserve will increase its commitment to tightening financial conditions.

BTC and other cryptos take a hit as CPI numbers are out

The Federal Reserve is likely to hike its key interest rate by at least three-quarters of a percentage point next week, with some speculating that it may need to increase it even more after consumer price inflation data came in hotter than anticipated.

Nomura Securities analysts now predict that the Fed will announce a 100-basis point increase. The business claimed that “the August CPI report… implies a succession of upside inflation risks may be materializing.” 

By the end of the year, the Fed will likely announce two further rate increases of 50 basis points to combat inflation, according to experts. 

The probability of the big rate rises is now estimated at 28% in Fed funds futures. The market seems to be assuming that the central bank would maintain a more gradual pace of monetary tightening rather than conduct a really significant rate rise.

The U.S. central bank increased interest rates by 75 basis points in July, which provided some comfort to BTC and other cryptos. The forthcoming merge event has been overshadowed by recent inflation figures since market sentiment is largely pessimistic.

BTC took a major hit along with other major altcoins. Bitcoin which was recently showing signs of slow recovery erased it when it plummeted to $20,371 at the time of writing. ETH, ADA, SOL, DOGE, and other major coins also followed suit with single and double-digit losses.

Cryptocurrency universe welcomes the OG Mean Girls through Web3

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The cryptocurrency community has been very receptive to outsiders. It feels even more exciting for crypto aficionados with so many fresh entrants into the crypto-verse. Mean Girls, the cult film of teen girls in the 1990s, is about to walk the ramp as crypto-collectibles through Web3.

Mean Girls (2004), an American teen film, could soon make a Web3 comeback as Paramount Pictures has revealed ambitions to expand the brand into “crypto-collectibles” in trademark filings.
The early 2000s teen comedy featuring former Disney actress Lindsay Lohan was the subject of two trademark applications on 7 September 2022, according to tweets from registered trademark attorney Mike Kondoudis.

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Source: Twitter

The trademark applications include “downloadable virtual products” such as cryptocurrency-collectibles and NFTs as well as “downloadable multimedia files comprising artwork” that are authenticated by nonfungible tokens (NFTs). The application also addresses the transmission and use of “application tokens,” NFTs, and cryptographic valuables.
The 2004 teen comedy movie Mean Girls has a sizable cult following and was the inspiration for innumerable memes and reaction GIFs created by fans. It’s regarded as one of the most quotable films of all time, and it even inspired the annual celebration of Mean Girls Day on 3 October 2022.

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Source: Twitter

Only one day prior, media powerhouse Viacom International submitted a trademark application of a similar nature with the goal of extending the reach of The Teenage Mutant Ninja Turtles brand into the online space.
A rising number of businesses are registering their trademarks for the Metaverse, non-fungible tokens (NFTs), and cryptocurrency-collectibles.

Cryptocurrency, NFTs, and Metaverse trademark applications on rise

The United States Patent and Trademark Office received more than 3,600 trademark applications for cryptocurrency and services linked to cryptocurrencies as of August 31 than it did in all of 2021, according to statistics compiled by intellectual property lawyer Mike Kondoudis on Tuesday. In addition, Kondoudis noted that while the number of trademark applications pertaining to the Metaverse or Web3 had more than doubled from 1,866 in 2021 to 4,150 as of August 2022, the number of NFT applications had increased even further, rising to more than 5,800 in 2022 from 2,087 in 2021.

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Source: Twitter

High-profile companies like Nike, Gucci, Dolce & Gabbana, Adidas, and Tiffany & Co. have already made a combined $260 million from sales of NFTs, according to data from Dune Analytics, making the use of NFTs a very lucrative and profitable addition for current firms wishing to expand into Web 3.

WazirX: India’s ED Unfreezes Crypto Exchange’s Bank Account

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WazirX brings some good news to its users. After more than a month, India’s financial crime-fighting agency announced on Monday that WazirX’s bank accounts had been unfrozen. The exchange is connected to Binance, the largest digital currency exchange in the world.

The company was under investigation by the federal Enforcement Directorate (ED) last year for alleged violations of foreign exchange laws, and its assets worth $8.16 million worth of rupees were frozen. View More

The exchange claimed that it is now able to carry on with regular banking operations.

“After an in-depth internal investigation, WazirX noticed that most of the users whose information was sought by ED were already identified as suspicious by WazirX internally and were blocked in 2020-2021.”

The exchange stated in a blog.

WazirX stated that it cooperated with the investigators

According to the exchange, it has worked with the investigators by giving them all the pertinent facts, information, and documentation regarding the alleged accused businesses that used its platform.

Changpeng Zhao, the chief executive of Binance, revealed last month that the purchase of WazirX, which was announced in 2019, was never finalized. But CEO Nischal Shetty was of the opinion that the deal was completed.

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WazirX: India's ED Unfreezes Crypto Exchange's Bank Account 7

Finance Minister Nirmala Sitharaman presided over a meeting on September 8 about the apps, which also witnessed participation by the Deputy Governor of RBI, and brought the “illegal loan apps” scam with connections to China into the public eye.

The ED raided the exchange’s director Sameer Mhatre’s properties on August 5 for reportedly assisting “approximately 16 accused industry players in laundering the criminal proceeds using the crypto route,” freezing $8.1 million in assets held by the exchange.

Big Eyes Coin: Bringing Diversity to the Crypto Industry While Solana and Chiliz are Trailing

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Cryptocurrencies are a new addition to the financial market, and the first one (Bitcoin) debuted in 2009 following the previous year’s economic crisis. These digital currencies are rapidly blowing up and amassing crypto enthusiasts daily. The reason for this is not far-fetched, as these coins ensure that users get maximum value for their money. NFTs, Metaverse, Virtual reality, Virtual Farming, Staking, and so on are some of the additions that provide individuals with valuable profits. Joining this industry are Big Eyes Coin (BIG), Solana (SOL), and Chiliz (CHZ), intending to change and expand the outlook of cryptocurrencies. These three coins employ Decentralized Finance (DeFi) to ensure that users have complete and undisputed autonomy over their money and purchases.

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Big Eyes Coin: Bringing Diversity to the Crypto Industry While Solana and Chiliz are Trailing 10

Taxes, Fees, and Costs

Big Eyes is a meme coin that functions on a decentralized system intending to introduce more individuals to meme coins and, by extension, other cryptocurrencies. It is a community-driven platform that puts its users first by creating a dynamic tax system that will alleviate extra transaction deductions. Knowing that the platform would not exist without the interest and participation of the users, Big Eyes has designed the NFT marketplace and the ecosystem in a way that users will earn immense profits and win tangible awards.

To improve the ocean’s ecosystem, Big Eyes Coin (BIG) is set to donate significantly to organizations that support this cause. In addition, a well-designed team has been put in place to help improve the platform’s and coin’s scalability and functionality. These team members include Top Cat, Tech Cat, Hype Cat and so on. With BIG tokens, individuals will be able to contribute to the decisions of the platform. Additionally, they will be able to participate in the NFT events and interact with other users on the platform. A total supply of 200 billion BIG tokens has been distributed for various purposes. Some of its intended purposes include the 5% token allocation to charity, 70% for presale, 20% for exchanges, and so on.

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Big Eyes Coin: Bringing Diversity to the Crypto Industry While Solana and Chiliz are Trailing 11

Will Solana (SOL) Solve the Blockchain Trilemma?

Solana operates on a third-generation blockchain that provides support for Decentralized Finance (DeFi) solutions, including the development of decentralized applications (DApps) and smart contracts. Solana uses a consensus algorithm that combines proof-of-history (PoH) and proof of Stake (PoS), allowing the network to turn out roughly 50,000 transactions per second. Also, alongside Avalanche, Solana intends to resolve the blockchain trilemma that has been affecting blockchain technology for a while.

During the recent crypto rally, SOL, the native currency of the Solana ecosystem, has gathered a lot of interest. With the ownership of SOL tokens, users will have access to the fast and secure Solana network. Moreover, in contrast to its counterparts, Solana offers quick transactions and scalability.

Chiliz (CHZ) Coin is Carving an Inclusive Space for Sports and Crypto Enthusiasts

Chiliz (CHZ) coin functions on a decentralized system that creates a space for sports fans in the crypto industry. It has been regarded as the leading digital currency run by the Malta-based FinTech provider. Socios, the blockchain-based sports entertainment, allows users to engage in the governance of their best sports brands. With the CHZ token, sports fans can influence club-related decisions through polls and surveys. Due to its huge success, Chiliz has partnered with sporting institutions such as Juventus Turin, Manchester City, Paris Saint-Germain, and FC Barcelona.

CHZ coin is available on blockchains such as Tron, Ethereum, Binance Smart Chain, and other blockchains. The CHZ tokens are minted on the Socios sidechain, ensuring the Chiliz platform’s safety. Users can vote in public polls. 

Big Eyes Coin (BIG) is the next big meme coin that will revolutionize the crypto industry. Big Eyes Coin (BIG) will change how cryptocurrencies are viewed by putting the community first and erasing tax deductions. Additionally, the success of its presale adds to the prediction of its eventual success. 

Presale: https://buy.bigeyes.space/?section=buy 

Website: https://bigeyes.space/ 

Telegram: https://t.me/BIGEYESOFFICIAL 

Cardano And Revolutux: Start Your Crypto Journey By Hodling These Tokens 

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Starting your crypto journey can be as easy as buying your first Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), or perhaps any other cryptocurrency. However, irrespective of how you choose to start or continue this journey. Having a diversified portfolio of tokens is one of the best moves. You should consider your asset allocation and adjust your crypto portfolio regularly.

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Cardano And Revolutux: Start Your Crypto Journey By Hodling These Tokens  14

Cardano Set The Crypto Bar High

Cardano (ADA) was established by Charles Hoskinson, a co-founder of Ethereum, another renowned cryptocurrency. Cardano uses blockchain technology to function on a decentralized public ledger. The Cardano network cryptocurrency is known as Cardano, and the individual unit is known as ADA. 

Cardano has a “proof-of-stake” method, in which currency owners are entrusted with confirming transactions in exchange for a reward. Cardano “staking” reward can be an appealing method to earn money, and the best crypto brokers allow you to participate in staking for free or at a small fee. Like many other crypto coins, Cardano may be thought of as a token that allows you to power or activate apps. Sending money is only one part of what Cardano and many other cryptocurrencies provide.

Meet Revolutux – The Revolutionary New Cryptocurrency

Revolutux (RVLT) is a community-centric, deflationary coin that rewards holders through redistribution. Engaging the community in decision-making gives them a genuine sense of ownership over their assets. Token holders can safely hold their tokens using the reflection approach based on per cent complete and total tokens owned. Staking, trading, NFT, and incentives are all available to Revolutux (RVLT) holders under one roof. Revolutux (RVLT) will create an innovative economic infrastructure, including tools and training, to improve the efficiency and accessibility of cryptocurrencies for all.

Revolutux Swap Is A Quick And Easy Method To Exchange Your Revolutux Token 

One of the amazing perks of being a Revolutux holder is that you can take advantage of decentralized and on-chain transaction settlement. Users can look for and choose the decentralized exchange with the lowest transaction rates. The world’s largest decentralized exchanges are linked to services. Invest immediately in a valuable asset that you believe will appreciate over time. 

Revolutux Staking Features Will Allow Users To Earn Passive Income On Their Tokens When They Stake Them 

Revolutux’s consensus mechanism is proof of stake (PoS). RVLT token holders can stake their tokens and earn passive income from them. Revolutux users will exchange, buy, and sell NFTs. Revolutux staking platforms assist investors in receiving token dividends because staking Revolutux or cryptocurrencies requires specialized technological crypto expertise and compliance criteria. This includes investors who lack a technical understanding of cryptocurrencies.

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Cardano And Revolutux: Start Your Crypto Journey By Hodling These Tokens  15

Bonuses

During their bonus period, Revolutux has provided lots of bonuses for users who are willing to claim this bonus quickly. For users who will be buying the RVLT tokens with tokens such as ETH, BNB, USDT TRC-20, USDT ERC-20, and BTC; you get 5%, 8%, 10%, 6%, and 8%, respectively. There are also presale bonuses that users can receive during the presale period. Stage 1 is 7%, stage 2 is 4% and stage 3 is 2%, you will receive a particular percentage more of a token.

The Bottom Line 

Your portfolio is key to your crypto wealth, wise financial decisions like Dollar Cost Averaging (DCA) will always keep you winning in this long-term game. Buying and hunting for great tokens with solid potential is another step in the right direction. To learn more about Revolutux read here.

Presale: http://begin.revolutux.com/ 

Website: http://revolutux.com/ 

Telegram: https://t.me/RevolutuxOfficial 

Here’s how the Ethereum merge will alter the cryptoverse

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A much-anticipated update concerns Ethereum [ETH] and its significant transition to the Proof-of-Stake [PoS] space. The entire community has been keeping track of all the events leading up to the same. A few in the sector were anticipating yet another delay, even though the majority appeared to be expecting for a smooth changeover. Numerous of them have been indicating their support for the same amid this. Several platforms have halted ETH trading as the network gets ready for this eagerly anticipated update.

However, the price of Ether (ETH) may decouple from other crypto assets after the Merge, according to crypto analytics company Chainalysis, with staking yields perhaps driving significant institutional adoption.

According to a report released by Chainalysis on Wednesday, the future Ethereum upgrade would give institutional investors access to staking yields that are comparable to those of some securities, such as bonds and commodities, while also becoming much more environmentally friendly.

According to the paper, ETH staking is anticipated to provide stakers with an annual yield of between 10% and 15%, making it a “enticing bond alternative for institutional investors” given that treasury bond rates provide substantially less in comparison.

The report further stated,

“Ether’s price could decouple from other cryptocurrencies following The Merge, as its staking rewards will make it similar to an instrument like a bond or commodity with a carry premium.”

Has the number of Ethereum stakers been affected?

Chainalysis data shows that from fewer than 200 institutional ETH stakers in January 2021 to about 1,100 as of August this year, the number of institutional ETH stakers—those with $1 million or more in ETH staked—has “been gradually expanding.”

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Source: Chainalysis

According to the company, if this figure rises more quickly after The Merge, this should support the claim that institutional investors “do indeed view Ethereum staking as a good yield-generating strategy.” The Chainalysis analysis predicts that after The Merge, ETH will attract more institutional and retail traders since the upcoming update will make staking a much more appealing investment instrument.

ETH that has been staked is currently trapped in a smart contract that cannot be released until the Shanghai upgrade, which will occur six to twelve months after the Merge. Due to the current lack of liquidity in the staked ETH market, some staking service providers offer synthetic assets that approximate the value of the staked Ether. The disadvantage, according to the firm, is that “such synthetics don’t always retain a 1:1 peg.”

Furthermore, this week, ConsenSys, the organisation formed by Joseph Lubin, a co-founder of Ethereum and the creator of the MetaMask wallet, also released a research examining the “effect of the Merge on Institutions.”