Crypto

Andreessen Horowitz to open its first international office in London

Published

12 months ago

June 12, 2023

Andreessen Horowitz to open its first international office in London

June 11 (Reuters) – U.S. venture capital firm Andreessen Horowitz, a major cryptocurrency investor, said on Sunday it will set up its first international office in London, at a time when U.S. regulators have increased scrutiny of the cryptocurrency sector.

The London office, set to open later this year, will work with universities in the UK and support the development of blockchain technologies and startups, the company said in a statement, adding that it will be led by one of the firm’s general partners, Sriram Krishnan.

The move by Andreessen comes at a time when the U.S. Securities and Exchange Commission (SEC) has been cracking down on the crypto industry, suing cryptocurrency exchanges Coinbase (COIN.O) and Binance last week for allegedly breaching its rules.

“We’re thrilled to open our first international office in a jurisdiction that welcomes blockchain technology and is committed to creating a predictable business environment by pursuing regulations that both embrace Web3 and protect consumers,” said Chris Dixon, founder and managing director of Andreessen’s a16z crypto fund, which is setting up the office.

The decision follows talks with British Prime Minister Rishi Sunak and other authorities for months, Dixon said.

Sunak said in the statement he is “determined to unlock opportunities” for blockchain technology and “turn the UK into the world’s Web3 centre”. Web3 is a much-hyped vision of a future internet built on blockchain.

Reporting by Rishabh Jaiswal and Jahnavi Nidumolu in Bengaluru; Editing by Muralikumar Anantharaman

Our Standards: The Thomson Reuters Trust Principles.

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Crypto

Harnessing cryptocurrency to widen financial inclusion in Africa

Published

6 hours ago

May 25, 2024

Press Room

Harnessing cryptocurrency to widen financial inclusion in Africa

As we commemorate Africa Day, it’s crucial to reflect on the strides made toward economic empowerment and financial inclusion across the continent. Amidst the array of challenges, one notable phenomenon stands out: the rise of cryptocurrency.

Cryptocurrency adoption in Africa has sparked significant transformations. Across the continent, it is enabling individuals to access financial services previously out of reach for many. This technological advancement is narrowing the gap between the banked and the unbanked, offering a lifeline to millions excluded from traditional financial systems.

Think of a migrant worker sending money back home to his family overseas. In many countries, there are sizeable groups of people who cannot afford to sustain a bank account. At the same time, such people would struggle to meet the fees associated with conventional remittance services.

This challenge represents a vast segment of the global population. Globally, an estimated 1.4 billion people remain unbanked as of 2021, as per the most recent comprehensive estimate by the World Bank. This number is equal to roughly a quarter of the global adult population.

In light of these challenges, cryptocurrency is enabling individuals from all walks of life to access financial services previously out of reach for many from traditional financial systems.

At the forefront of this evolution are industry leaders like Binance, contributing to positive changes in Africa’s financial landscape. Through user-friendly platforms and educational initiatives such as Binance Academy and Binance Charity, they facilitate transactions and promote financial literacy and philanthropy. These efforts underscore the potential for crypto adoption to reshape financial norms.

The recent surge in Bitcoin prices further underscores the potential of cryptocurrencies to generate wealth and economic opportunities. Africa’s cryptocurrency landscape witnessed a remarkable surge in February 2024, echoing the global trend, with total market capitalisation soaring by 40 percent. In December 2023, the monthly change in crypto market capitalisation was 15.2 percent, but February 2024 witnessed a remarkable acceleration to 40 percent.

Beyond benefiting investors, this surge provides ordinary Africans with new avenues for prosperity. Whether through remittances, cross-border trade, or protection against inflation, crypto adoption offers a decentralised alternative that transcends borders and empowers individuals.

However, amidst the promise, challenges persist. Regulatory uncertainties and infrastructure deficiencies pose obstacles to widespread adoption. Collaboration among governments, regulators, and industry stakeholders is essential to cultivate an environment conducive to crypto innovation. Clear regulatory frameworks, investment in technological infrastructure, and education, are vital to unlocking the full potential of cryptocurrency adoption in Africa.

Looking ahead, Africa stands at a crossroads. The adoption of crypto presents a unique opportunity to redefine the continent’s financial landscape, fostering inclusivity and economic empowerment for all. With visionary leadership, strategic partnerships, and a commitment to innovation, Africa can lead the world in harnessing the transformative power of cryptocurrency.

On this Africa Day, let us celebrate the progress made and recommit ourselves to building a more prosperous and inclusive future for all Africans, driven by the transformative potential of crypto adoption, one step at a time.

Binance, the largest cryptocurrency exchange by trading volume, serving 190 million users across 100 countries, is taking pizza to the moon for Bitcoin Pizza Day. Over six days, Binance will be distributing more than 5,000 pizzas globally to reach consumers worldwide for Bitcoin Pizza Day. Binance is taking steps to truly own the holiday on a global scale, delivering on its mission to educate and engage with both crypto and non-crypto users.

Hannes Wessels is the Country Head for Binance in South Africa

Crypto

Technium International: Pioneering the Future of Cryptocurrency Trading

Published

13 hours ago

May 25, 2024

Press Room

Technium International: Pioneering the Future of Cryptocurrency Trading

In the rapidly evolving world of cryptocurrency and blockchain technology, Technium International has emerged as a significant player, quickly rising through the ranks of the tech giants. Founded in 2018 and based in Seychelles, Technium International gained recognition by leveraging the latest advancements in Artificial Intelligence (AI) and blockchain technology.

The company’s rise to prominence can be attributed to the leadership of its founder, Jacob Steffan, a seasoned expert in the blockchain industry since its early days in 2009. Under his guidance, Technium International has positioned itself as a global leader in cryptocurrency trading and technology. Steffan’s extensive knowledge of real-world applications and the transformative potential of blockchain has been instrumental in driving the company’s success.

Technium Matrix Protocol: A Groundbreaking Initiative

Central to Technium’s rapid ascent is the Technium Matrix Protocol (TMP), an innovative initiative that integrates cryptocurrency trading with big data analysis. TMP has not only transformed the landscape of cryptocurrency trading but also established Technium as a beacon of innovation and excellence in the tech industry. By utilizing a robust infrastructure that includes big data, cloud computing, and Graphics Processing Unit (GPU) rendering, Technium has optimized every aspect of the trading process.

Big data analytics provide deep market insights and risk assessments, cloud computing ensures scalability and real-time execution, and GPU rendering enhances the speed and efficiency of market monitoring and strategy adjustments. These technologies collectively ensure that Technium’s operations are efficient, secure, and profitable.

Technium Sentinel Strike: Streamlining Cryptocurrency Trading

Building on the success of TMP, Technium developed the Technium Sentinel Strike (TSS), an in-house strategy for cryptocurrency trading. TSS aims to streamline the trading process, offering users the tools to navigate the complex cryptocurrency markets with precision. By combining advanced technology with financial expertise, Technium has created unparalleled opportunities for individuals worldwide to confidently engage in cryptocurrency trading.

TSS utilizes sophisticated algorithms to interpret vast amounts of data, surpassing traditional trading methods by offering superior insights and precision. This approach addresses several key barriers in the cryptocurrency trading market, including market volatility, misinformation, and complex interfaces.

Breaking Barriers in Cryptocurrency Trading

Technium aims to mitigate the challenges posed by market volatility, which often deters new traders due to unpredictable price swings. The platform enhances information reliability by filtering out misinformation and providing dependable sources for decision-making. To bridge the knowledge gap, Technium offers educational resources and simplified trading strategies, empowering newcomers with a better understanding of market dynamics.

Additionally, Technium simplifies complex interfaces and technical terminology, making trading more accessible to users of all experience levels. The platform also prioritizes customer support to address trader inquiries and issues promptly. By minimizing the human factor in trading, Technium reduces emotional decision-making and streamlines portfolio management processes, ensuring timely trade execution and maximizing profitability for users.

Expanding Blockchain Accessibility

With the growing global acceptance of cryptocurrency, Technium is poised to lead a transformative shift towards widespread blockchain adoption. The company’s forthcoming ecosystem is designed to include Real World Assets (RWA), game-fi, cloud mining, and cryptocurrency staking, representing a significant shift in blockchain accessibility and utilization.

Technium’s ecosystem aims to democratize access to blockchain technology, empowering individuals from all walks of life to participate in the digital economy. RWA integration brings tangible assets into the digital realm, while game-fi offers immersive experiences that incentivize engagement and education. Cloud mining allows users to participate in cryptocurrency mining without the hassle of hardware maintenance, and crypto staking transforms utility tokens into dynamic assets, earning rewards for passive income.

At the heart of Technium’s ecosystem are robust AI algorithms that leverage big data for unparalleled insights and decision-making. The Technium Trading GPT (Generative Pre-trained Transformer) exemplifies this innovation, revolutionizing cryptocurrency trading with its predictive capabilities and real-time market analysis.

A New Era of Innovation and Empowerment

Through this comprehensive approach, Technium International is set to redefine the blockchain landscape, ushering in a new era of innovation and empowerment. By harnessing the collective power of AI, big data, and blockchain technology, the company is ready to make blockchain adoption a tangible reality for all, paving the way for a future where blockchain technology is accessible and beneficial to everyone.

Crypto

Cryptocurrency: Three Coins That Could Do 2X In June

Published

21 hours ago

May 24, 2024

Press Room

Cryptocurrency: Three Coins That Could Do 2X In June

Cryptocurrency investors are constantly on the lookout for coins that have the potential to generate substantial returns. Despite the recent market downturn, three prominent cryptocurrencies have emerged as strong contenders for achieving 2X gains in June. Ethereum (ETH), Solana (SOL), and Cardano (ADA).

These coins have demonstrated resilience and have the fundamentals in place to potentially double in value in the coming month.

Also read: Ripple: How High Can XRP Pump in June 2024?

Ethereum (ETH)

Ethereum has been at the forefront of the decentralized finance (DeFi) and non-fungible token (NFT) revolutions. Despite experiencing a 3.65% decrease in the past 24 hours, with a current trading price of $3,700.55, Ethereum’s strong fundamentals and upcoming network upgrades suggest that it could be poised for significant growth in June.

The 24-hour trading range for ETH is between $3,552.64 and $3,839.42, indicating a relatively volatile market. However, with the SEC approving ETH ETFs, Ethereum could be headed for a potential surge.

Also read: Cryptocurrency: Top 3 AI Coins That Could Surge 100% in June

Solana (SOL)

Despite a 5.25% decrease in the past 24 hours, with a current trading price of $165.33, Solana’s impressive transaction throughput and low fees have attracted a growing number of developers and projects to its ecosystem.

The 24-hour trading range for SOL is between $162.87 and $180.17, indicating a relatively wide spread. As more projects build on the Solana network, the demand for SOL tokens could potentially surge. This could lead to a 2X price increase in June.

Also read; Top ERC-20 Cryptocurrencies To Buy Now As Ethereum ETF Approval Looms

Cardano (ADA)

Despite a 3.49% decrease in the past 24 hours, with a current trading price of $0.462, Cardano’s strong community and upcoming network upgrades suggest that it could be poised for significant growth in June.

The 24-hour trading range for ADA is between $0.4486 and $0.4876, indicating a relatively narrow spread. Also, as more developers and users discover the potential of Cardano’s ecosystem, the demand for ADA tokens could potentially soar, leading to a 2X price increase in June.

While the cryptocurrency market is known for its volatility and unpredictability, Ethereum, Solana, and Cardano have emerged as strong contenders for achieving 2X gains in June.