Connect with us

News

OKX launches crypto exchange wallet services

Cryptocurrency exchange and Web3 developer OKX announced the expansion of its services for users in the Brazilian market with a local crypto exchange and Web3 wallet platform. 

Published

on

Cryptocurrency exchange and Web3 developer OKX announced the expansion of its services for users in the Brazilian market with a local crypto exchange and Web3 wallet platform. 

On Nov. 27, the company said it is focusing on providing a gateway to decentralized finance and crypto trading with Brazilian real fiat-on ramp capabilities.

Guilherme Sacamone, the general manager of OKX Brazil, said the Brazilian market has enormous potential to lead in crypto adoption and DeFi.

OKX cites a recent survey that found 92% of Brazilian respondents want “clear and transparent information” about their investment security. The study also showed that 86% agreed that proof-of-reserves can make a positive impact on cryptocurrency market legitimacy and maturity.

According to data from Chainalysis, in 2023, Brazil was one of the largest cryptocurrency markets in Latin America, alongside Argentina and Mexico. The data puts Brazil in ninth place for overall global crypto adoption.

Some of the exchanges currently available to users in the Brazilian market include eToro, Bybit, Kraken, Mercado Bitcoin and Binance. Data also shows Brazil leads the region in decentralized exchange and other DeFi-related activity.

Over the last year, the country has seen a particular uptick in adoption of the stablecoin Tether which accounted for 80% of all crypto transactions, according to the country’s revenue service agency.

Brazil is one of 47 countries — and one of only two South American countries — pledging to authorize the Crypto-Asset Reporting Framework by 2027 in cooperation with the Organisation for Economic Cooperation and Development.

Business

Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

Published

on

Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

Continue Reading

Business

Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

Published

on

Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

Continue Reading

Business

Hackers are selling counterfeit phones with crypto-stealing malware

Published

on

Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk