“Neither of the current CBDCs in circulation, such as the Sand Dollar and the digital yuan, accrue interest on deposits,” said Yang. As reported by local news outlet bnext.com on Wednesday, Chin-long Yang, governor of the Central Bank of the Republic of China (Taiwan), recommended a no-interest design for the country’s central bank digital currency,… More
“Ultimately, the cryptocurrency may be liquidated if the collateral value falls below a certain threshold, such as 35% of the property value,” said the report. Investment banking giant Citigroup has released research on how property technology could affect the housing market, mentioning virtual estate in the metaverse and cryptocurrency-backed mortgages.In a report released Wednesday titled,… More
The order reportedly came on the same date that Voyager Digital issued a notice of default to 3AC for its failure to pay its 15,250 Bitcoin and 350 million USDC loan. Troubled cryptocurrency venture capital firm Three Arrows Capital (3AC) is facing more uncertainty amid new reports on the company’s liquidation.A court in the British… More
Strongblock creates platforms and protocols with the intention of revolutionizing how blockchain networks compensate the nodes that protect and sustain them. The digital financial environment continues to develop almost every second, which is no surprise to those in the crypto sector. Among such technological advancements, a new project called StrongBlock has popularized the concept of… More
“We didn’t make money, but we definitely made new friends,” said Lavar, who originally purchased the Bitcoin in 2016. Joe Grand, a computer engineer and hardware hacker known by many for recovering crypto from hard-to-reach places, spent hours breaking into a phone only to find a fraction of a Bitcoin.In a YouTube video released on… More
“Selling a portion of our BTC holdings and daily production as a source of liquidity is the best and least expensive method in the current market environment,” said chief financial officeJeff Lucas. Canadian crypto mining firm Bitfarms sold roughly $62 million worth of Bitcoin (BTC) in June, using the proceeds from the sale to reduce… More
Deloitte wants to enable blockchain and digital asset-based services across many areas involving Bitcoin products like banking, rewards programs and others. Professional services giant Deloitte is getting increasingly serious about Bitcoin (BTC) amid the ongoing market downturn, setting up a major initiative to promote BTC adoption.Deloitte has partnered with the Bitcoin-focused financial services firm, New… More
Huobi cryptocurrency exchange is expanding its global footprint by winning its first-ever licenses in Dubai and New Zealand. Major cryptocurrency trading platform Huobi continues expanding its global presence by securing new licenses in New Zealand and the United Arab Emirates.On Friday, Huobi Group obtained the Innovation License under the Dubai International Financial Centre (DIFC), securing… More
Users attempting to visit certain websites were met with a “500 Internal Server Error” notice due to a Cloudflare outage. Cloudflare, a significant infrastructure provider for the internet, recently experienced widespread problems, leaving many crypto exchanges down.The content delivery network (CDN) confirmed via an update posted on Tuesday that it is experiencing issues with its… More
The CryptoPunk 5364 NFT was donated to the Aid For Ukraine campaign by user 0x165cd3, who procured the artwork back on March 1, 2022. It took cross-border sanctions and an escalating war for the Ukrainian government to realize the importance of cryptocurrencies, as it witnessed uninterrupted monetary aid in the form of crypto and nonfungible… More
One of the world’s largest producers of carbon emissions, the Russian gas giant Gazprom aims to reduce its carbon footprint by providing its flare gas for Bitcoin mining. The Russian government continues to establish links with major players in the cryptocurrency mining industry despite staying skeptical about legalizing cryptocurrency trading and payments.Russia’s state-owned gas giant… More
SEC Commissioner and “Crypto Mom” Hester Peirce criticized the SEC on its regulatory guidance, but noted that change is possible if investors and regulators work together. The crypto sector may be maturing, but regulatory clarity around the treatment of digital assets continues to remain cumbersome. This was recently highlighted by Commissioner Hester Peirce — also known… More
Amid Tether losing market share over the past few weeks, the Circle-backed USDC stablecoin has been growing notably, with the market value surging to $55 billion. Tether (USDT), the biggest stablecoin and the third-largest digital currency by market capitalization continues losing its market value amid the current market downturn.On Thursday, USDT’s market cap dropped below… More
Binance Labs’ parent firm Binance is also looking to hire 2,000 employees amid the latest market decline as the firm sees bear markets as a “great time to bring on top talent.” Binance Labs, the venture capital and incubation arm of the Binance cryptocurrency exchange, continues its business as usual despite the ongoing bear market.The… More
Many social media users seem to be waiting for other crypto exchanges, including Coinbase and Kraken, to follow in Binance’s and Celsius’ footsteps by suspending withdrawals. Major crypto exchange Binance has announced that it had resumed Bitcoin withdrawals after more than three hours amid extreme market volatility. In an update during what many are calling cryptocurrency’s… More
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