Binance has announced that it will enable the trading of Bitcoin Ordinals NFTs in its marketplace via a recent announcement. It has stated that it will allow investors to trade their Ordinals NFTs using the already existing wallets. This news comes when the total number of generated Ordinals hits over 5M.
Binance NFT Marketplace to allow the trading of BTC Ordinals
Bitcoin Ordinals NFTs have been a hot topic in the crypto space this year, and by now, 5M inscriptions have been hosted on the network. By now, they have been supported by major NFT exchanges like Magic Eden.
On May 9, 2023, Binance announced it would support Bitcoin Ordinals on its NFT Marketplace in May. The NFT Marketplace will now expand its NFT ecosystem to offer Bitcoin products. Previously, the marketplace integrated with decentralized networks like BNB Chain, Ethereum, and Polygon.
Keep watching FinTech Express for updates on this and other Finance related stories.
The ongoing banking collapse is sending shivers down the spines of US investors as they are losing trust in the policies that the Fed has been issuing. This has been seen via an increasing number of Short sellers in the stock market and bank withdrawals sending major banks under.
Where is this money going? Is it going into crypto? The answer is no. Most US citizens are still wary of the crypto industry, which the continued bear market has shown. A firm survey by Goldman Sachs shows that 62% of the firms do not intend to enter crypto, which is a long way from 2021’s 39%.
Dwindling trust in the US banking system
About half of US citizens are confirming that they no longer have trust in banks and are afraid to keep their money there. The main reason behind this decision is the looming financial crisis and the harsh rates hike by the Federal Reserve (Fed) that directly impacts their day-to-day lives.
Interest rate hikes are meant to slow down inflation rates. However, they impact normal citizens greatly by making borrowing money more expensive. As a result, fewer people are interested in borrowing, so the net spending falls. The Federal TReserve has been raising interest rates continuously since 2022 to combat inflation to a range of 5%, only to indicate signs of slowing down recently.
One of the side effects of continuous hikes is the increased cost of living and other strings of economic damages like bank collapse. However, the US is still posting strong job statistics, and the inflation rates are slowing down, showing that all is not lost yet.
Crypto isn’t safe, either
Investors still need to be convinced about getting into the crypto space. Recent figures from Goldman Sachs show that even more institutions are willing to stay away from the crypto space in this market cycle.
The banking institution’s findings show that roughly 26% of family offices are currently invested in crypto, up from 16% recorded in 2021. However, among those not invested in the crypto industry, the number willing to stay away from the crypto space has grown from 39% in 2021 to 62 % now.
The number of respondents potentially interested in crypto fell from 45% to 12% over the same span. Family offices are wealth management firms that work with high-net-worth individuals and families. Goldman Sachs conducted the survey discussed in this article using 166 family offices worldwide between January and February 2023.
While these findings come from a market in distress of a looming financial meltdown, they clearly show how interest in both banks and crypto industries is fairing at the moment. However, it doesn’t mean that any of the information covered here is financial advice. Keep watching FinTech Express for updates on this and other FinTech-related news.
Solana finally revealed the SAGA phone in Mid-April after being waited for by crypto enthusiasts for long. The device is designed to be seamless in making transactions and will allow customers from select regions to order it beginning May 8
First Web 3 smartphone?
Solana has introduced the SAGA smartphone to the world, with customers from the U.S., E.U., U.K., Canada, Switzerland, Australia, and New Zealand to be allowed to order it beginning May 8.
The device retails at $1000 and runs on Android software. Since Google and Apple stores enforce strict regulations around their payment systems, which affects many Web 3 applications, Solana decided to step in to prevent compromises being made by the applications, which may, in turn, inhibit the full potential of the Web 3 solutions.
One example of the inhibition affecting Web 3 applications is the Uniswap app. This application was stuck in the Apple Store publishing process for over a month to ‘comply’ with the set standards. Now, Solana’s SAGA steps in here. It will have a separate app store designed to allow for the publishing of Web 3 applications without much struggle.
Is Solana giving Web 3 enthusiasts crypto’s smart security tech?
Yes, they are going to get a taste of their tech. The phone is packed with multiple security protocols and solutions employed in the crypto industry. Once users acquire their Solana Saga Phone, they will be prompted to connect their Web3 wallets or create a new one integrated into the device.
The selected wallet will then be used to conduct the transactions securely. The inbuilt wallet is secured in a separate layer from the Android operating system. The phone also has an element processor, meaning that the wallet is encrypted, so the device administration systems cannot decrypt it without the owner’s engagement.
The mobile device will feature 16 Dapps ready for downloading from the Solana App Store during the first launch phase. These apps include Audius, Dialect, Jupiter Aggregator, Ledger, Magic Eden, Marinade, Squads, and others.
The phone will also allow its buyers to claim a SAGA NFT token once they are done setting it up. The first few users will also receive a welcome package featuring crypto assets and sticker packs. Keep watching Fintech Express for updates on the progress of the SAGA phone in the markets and other Web 3-related stories.
Solve.Care, a Web 3 health services company, has tapped into the expertise of OMRON Healthcare to integrate it with its systems. OMRON offers blood pressure monitoring and cardiovascular disease management solution.
Now, OMRON’s devices can send and receive data directly from Solve.Care platform. The Web 3 solutions provider said the measurement data will be stored directly in its decentralized user data nodes via OMRON’s Evolv® BP7000 Blood Pressure Monitor.
In a press release, the company said that Evolve by OMRON will allow users of its platform to share their readings peer-to-peer with health services providers or within their Care.Circle. Care.Circle is a personalized healthcare support group comprising family and friends or other care providers.
The press release explained that the integration of OMRON devices is part of Solve.Care’s strategy of creating an entire healthcare ecosystem for patients, physicians, and all healthcare stakeholders.
“We admire OMRON Healthcare’s goal for developing life-saving cardiovascular health technologies and sharing a like-minded vision of enabling consumers to access their real-time healthcare data,” said Pradeep Goel, CEO of Solve.Care.
“While accelerating the expansion of OMRON devices to reach more consumers and new markets, we are creating a more holistic approach to healthcare on the Solve.Care platform. We’re thrilled to integrate our innovative Care.Wallet technology with one of the most reputable blood pressure devices worldwide.”
Pradeep Goel, CEO of Solve.Care.
The deal between OMRON and Solve.Care is expected to impact many people as OMRON is the world’s largest blood pressure monitoring device manufacturer, with over 300 sold units. It will also make Solve.Care an authorized reseller of its devices which will harmonize their joint efforts further. Keep watching Fintech Express for updates on Web 3 and other Fintech-related stories.
Bitcoin bull and former Coinbase CTO Balaji Srinivasan has released a statement on Twitter claiming that the US actively ignores looming financial meltdowns. He also said that he is still optimistic about Bitcoin hitting the $1M tag but in 90 months now rather than 90 days.
Balaji concedes that Bitcoin won’t hit $1M in 90 days and is not happy with US economic meltdown
Bitcoin enthusiast Balaji has confirmed that the famous bet that Bitcoin would hit a $1M price tag within 90 days is officially closed out by mutual agreement. He made this statement via Twitter, saying that he conceded the possibility of that happening and has fully paid the bet amount and exceeded it by 50%.
Balaji said that he paid the amount in provable on-chain donations as follows:
In his Twitter statement, he said that he honored the bet because he believes in the public good but is disappointed that it’s not feasible to rely on the public sector anymore for alarms when something needs to be fixed.
I JUST BURNED A MILLION TO TELL YOU THEY'RE PRINTING TRILLIONS
The million dollar bet is now closed out by mutual agreement. I made $1M+ in provable on-chain donations, which you can verify by clicking the links below:
He claimed that Treasury’s Janet Yellen knew the 2008 financial meltdown was coming but didn’t bother telling anyone. He said that Yellen claimed the economy would face a mild recession only for a global collapse to happen 158 days later.
An excerpt from his tweet read:
“So I spent my money to send a provably costly signal that there’s something wrong with the economy and that it’s not going to be a “soft landing” like Powell promises — but something much worse.”
He added links to articles covering the 2008 financial meltdown and a video asking people to gather information and figure out if we are indeed headed for soft economic turbulence.
