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Brazilian bank suspends native crypto token trading following 97% price drop

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Nubank has announced the discontinuation of trading for its proprietary cryptocurrency token, marking a significant shift in the company’s digital asset strategy. The decision to halt trading comes amid evolving market conditions and regulatory considerations.

The Brazilian fintech giant, known for its extensive digital banking services, had initially launched its token as part of its broader strategy to integrate blockchain technology and offer innovative financial products. However, the company has decided to end trading of the token, citing a strategic realignment and a need to focus on core business areas.

In a statement, Nubank explained, “After careful evaluation, we have decided to discontinue trading of our cryptocurrency token. This decision reflects our commitment to aligning our resources with our core business objectives and ensuring that we are well-positioned for future growth in our primary banking and financial services.”

Nubank’s move to cease trading its token comes as part of a broader trend among financial institutions to reassess their involvement in the cryptocurrency market. The company has emphasized its continued dedication to leveraging blockchain technology in other areas of its operations, while prioritizing its main financial services.

The discontinuation of the token’s trading is expected to impact users who have been actively trading or holding the token. Nubank has assured its customers that it will provide support throughout the transition and ensure that all necessary measures are in place to manage the change.

Industry analysts view this development as a strategic shift reflecting the dynamic nature of the cryptocurrency market and the evolving priorities of financial technology firms. The decision highlights the complexities and challenges associated with integrating digital assets into traditional financial services.

As Nubank moves forward, the focus will likely be on consolidating its position in the digital banking sector and exploring new opportunities for innovation. The company’s approach to blockchain and digital assets will continue to evolve in response to market trends and regulatory developments.

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

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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.

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

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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.

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Hackers are selling counterfeit phones with crypto-stealing malware

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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.

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