The New York-based crypto exchange said its staking service will allow customers to stake their cryptocurrencies and receive rewards within their Gemini account.
See related article: Gemini sued over US$36 mln Bitcoin and Ethereum hack
Gemini Staking will be available for users across the U.S. (excluding New York), Singapore, and Hong Kong, the crypto exchange said on its website.
As of today, users can start staking MATIC, ETH, SOL, and DOT tokens. Support for Audius’ AUDIO token will also be launched soon.
“Staking is an important aspect of crypto and we want to ensure that we provide a robust suite of products and services that enable our users to interact, in a secure and safe manner, with the wider crypto ecosystem,” Feroze Medora, MD for APAC at Gemini told Forkast.
Staking involves crypto holders locking up their funds for a determined period of time, in exchange for staking rewards. This secures proof-of-stake-based blockchain networks like Cardano and Solana.
Gemini aims to simplify staking for users, who can pledge their crypto directly within the app. “Staking may seem like a daunting task for users who do not have the technical expertise to select and run their own validator nodes,” wrote Medora.
Staking is the second yield-generating product launched by the Winklevoss Twins-led crypto exchange, following Gemini Earn.
Gemini’s initiative came amidst a new wave of interest toward staking thanks to Ethereum’s transition to proof-of-stake. “The upcoming Merge has definitely caused the proof-of-stake model to gain further popularity amongst crypto investors,” wrote Medora.
See related article: SEC scrutinizing crypto lending by Celsius, Gemini, Voyager: reports
The company hopes to capitalize on rising user interest ahead of Ethereum’s upcoming shift to a proof-of-stake model.
Web3 lifestyle app Stepn is releasing a non-fungible token (NFT) running shoe collection in partnership with crypto exchange WhaleFin and Spanish soccer club Atlético de Madrid, the company announced on Thursday. See related article: Play-to-earn game developers pivot to engaging fans Fast facts This collection will feature 1,001 Atlético de Madrid shoes that grant the […]
European food ordering and delivery giant Just Eat Takeaway has revealed that it's selling its stake in Brazil's iFood for up to €1.8 billion ($1.8 billion) to Prosus. The initial deal will amount to €1.5 billion in cash, plus another €300 million depending on the performance of iFood over the next 12 months. News of the pending deal sent Just Eat Takeaway's shares soaring 25% to more than €21 in early trading on the Dutch Euronext Amsterdam stock exchange.
(Bloomberg) — UK household energy bills are set to rise about 80% in October, when the regulator next lifts a limit on how much suppliers can charge in the wake of soaring wholesale costs. That’s according to the latest estimate from consultancy Auxilione as the window closed for Ofgem to calculate what the cap will be. Average bills will likely near £3,600 ($4,292) a year when the new level is announced next week for the three-month period beginning in October, up from £1,971, which came into
Mercado Coin will allow the company’s 80 million users to make purchases and receive cashback.
Responding to a hypothetical scenario on Twitter, Coinbase CEO Brian Armstrong said if regulators threatened the crypto exchange to censor Ethereum (ETH) transactions, he would rather shut down its ETH staking service to preserve the integrity of the blockchain network. "The Hash" panel discusses what this means ahead of Ethereum's historic transition to a proof-of-stake (PoS) consensus.
Westlake, Badger Meter, Vermilion Energy, Magic Software and CI Financial are included in this Analyst Blog.
(Bloomberg) — Qualcomm Inc. is taking another run at the market for server processors, according to people familiar with its plans, betting it can tap a $28 billion industry and decrease its reliance on smartphones.The company is seeking customers for a product stemming from last year’s purchase of chip startup Nuvia, according to the people, who asked not to be identified because the discussions are private. Amazon.com Inc.’s AWS business, one of the biggest server chip buyers, has agreed to t
BlackCloak CEO Chris Pierson joins Yahoo Finance Live to discuss Apple’s security vulnerabilities, why Apple users should update their devices, and the outlook for cyberattacks.
Vulnerability may already have been used by hackers to take control of people’s phones
Such major exploits tend to be used against high-profile and high-risk targets – but normal iPhone users can be caught up in attacks
Security experts advise users to update their devices immediately to avoid an attack.
New handset will be revealed in a live-streamed online event
Apple's reportedly planning to integrate ads into its apps – a move that's an intuitive next step as the company looks to drive new revenue, analyst says.
With all the excitement surrounding the Ethereum merge scheduled for next month, the number of Ethereum Name Service (ENS) addresses created have surpassed the 2 million mark, according to a Twitter post by ENS Domains. See related article: Ethereum will soon turn 7 — and its upcoming ‘Merge’ will be well worth the wait Fast […]
Shares of Qualcomm rose nearly 3% in afternoon trading. The chipmaker is seeking customers for a product stemming from its purchase of Nuvia Inc, the report said, adding that Amazon.com Inc's cloud division, Amazon Web Services (AWS), has agreed to take a look at Qualcomm's offerings.
Users of some models of iPhone, iPad and Mac are being urged to run "important" security update.
WBZ TV's Liam Martin reports.
Apple disclosed serious security vulnerabilities for iPhones, iPads and Macs that could potentially allow attackers to take complete control of these devices.
Owners of iPhones, Macs and iPads have been urged to update their devices as soon as possible, after Apple released a new security update. What’s more, Apple says the vulnerabilities “may have been actively exploited”, meaning that any devices that have not been updated could be running the risk of attack. The new updates do not include any other changes or security fixes, according to their release notes.
