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Mastercard to end crypto partnership with Binance

Published

3 months ago

August 25, 2023

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The announcement comes amid consistent low cryptocurrency prices and heightened scrutiny of the industry

Global payment giant Mastercard and cryptocurrency exchange Binance are set to discontinue their collaboration on crypto card programs across four countries—Argentina, Brazil, Colombia, and Bahrain—effective September 22, as reported by Reuters.

Binance’s crypto cards enable users to conduct transactions in traditional currencies using funds from their cryptocurrency holdings on the exchange.

Mastercard’s website also outlines partnerships with other crypto exchanges like Gemini. The decision, however, will not impact Mastercard’s other ongoing crypto card initiatives, as clarified by a spokesperson.

Facing ongoing legal and regulatory hurdles, Binance and its CEO Changpeng Zhao were sued by U.S. regulators in June for alleged deceptive practices. In response, Binance vowed a robust defence.

Despite this development, Mastercard’s commitment to forging partnerships with cryptocurrency firms remains.

The company’s head of crypto and blockchain, Raj Dhamodharan, previously emphasised thorough due diligence and continuous monitoring for all card programs.

A statement from Binance’s customer support account on X (formerly Twitter) indicated that the Binance Card would cease to be available for users in Latin America and the Middle East.

News

U.S. terror alert “when, not if”

Published

21 hours ago

December 6, 2023

ticker NEWS

The FBI director has made a major announcement about the terror threat in the United States right now. So why is he so worried?

In a major announcement, the director of the FBI revealed that the United States is currently facing its most heightened terror threat level since October 7.

The nation’s security apparatus is on high alert, with officials reporting a surge in intelligence indicating potential terror plots. #ticker today #featured

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Desperate Zelensky cancels Congress video call

Published

21 hours ago

December 6, 2023

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President Volodymyr Zelensky unexpectedly canceled a videolink appearance to appeal for continued US funding.

Ukraine is sounding the alarm, expressing a “big risk” of losing the ongoing conflict if the United States Congress delays crucial aid.

As tensions continue to escalate on the eastern front with Russian-backed separatists, Ukraine has been relying on international support to sustain its fight for sovereignty. #featured

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Will the travel boom continue in 2024?

Published

22 hours ago

December 6, 2023

ticker NEWS

Several big events are scheduled in 2024 and travelers say they’re planning to attend.

Following the pandemic—pent-up demand to travel exploded.

But, after years of inflation and rising tourism costs—are travelers curtailing plans for 2024 or revving them up?

Casey Hatfield-Chiotti, a Travel Editor, Marin Living Magazine joins Veronica Dudo to discuss. #IN AMERICA TODAY #travel #traveltrends #2024travel #tourism #luxurytravel #hospitalityindustry #MarinLiving #ParisOlympics #solareclipse #featured