The authority responsible for crypto oversight in Uzbekistan has determined the order of issuing and circulating digital assets in the country. The main reason behind the move is to establish a mechanism that would allow local companies to attract capital through coins and tokens. Uzbekistan Government Sets Out to Regulate Digital Asset Investments The National
Month: December 2022
On Dec. 2, the United States dollar index (DXY), an index that measures the dollar’s strength against a basket of top foreign currencies, reached 104.40 which was the lowest level seen in 5 months. To recap, the U.S. dollar’s weight against the basket of top foreign currencies grew by 19.6% in 2022 until late September
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The FTX contagion that started in the second week of November is still haunting various crypto protocols in the DeFi ecosystem. The latest to fall prey to the contagion
Non-farm payrolls in the United States rose by 263,000 in November, exceeding economists’ expectations of an increase of 200,000. Analysts believe that the numbers remain hot and do not allow much scope for the Federal Reserve to slow down its aggressive rate hikes. This is contrary to Fed Chair Jerome Powell’s remarks delivered at the Brookings Institution
On Dec. 2, NFT Steez hosts Alyssa Expósito and Ray Salmond chatted with Victor Solomon to discuss his journey into bridging his in-real-life artwork into NFTs and how he cultivates the community and culture that surrounds it. Solomon’s work centers around basketball, not just the object, but the sport itself. For Solomon, the inspiration for
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Bitcoin (BTC) continued to hold key support on Dec. 2 as United States stocks fell on the Wall Street open. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView DXY weakness offers hope of “Santa rally” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as bulls bought time between $16,800 and $17,000. Analysts had earmarked the
The downfall of FTX and a number of other CeFi platforms in 2022 has reinforced a Bitcoin maximalist narrative, according to which most of the crypto ecosystem will eventually collapse due to its centralization. Jeff Booth, Bitcoin proponent and author of “The Price of Tomorrow”, believes centralized crypto platforms such as FTX and Celsius have
RBB Lab, a technology development firm based in the Republic of San Marino, has utilized nonfungible token (NFT) technology to issue a court summons to a former employee and a contractor. RBB Lab CEO Enrico Rubboli told Cointelegraph that it summoned the two individuals to the Judiciary of Italy on claims of attempted extortion and
On Dec. 1, 2022, an attorney for the U.S. Trustee submitted a written letter to Delaware bankruptcy court officials that seeks to establish an independent examiner to investigate the FTX Chapter 11 bankruptcy proceedings. The U.S. Trustee explained in the letter that FTX’s collapse was comparable to complex bankruptcy cases like Lehman’s, Washington Mutual Bank’s,
Italy is planning to tighten regulations on digital currencies in 2023 by expanding its tax laws to include cryptocurrency trading, according to budget documentation released on Dec. 1. Included in its 2023 budget are plans to impose a 26% levy on profits larger than 2,000 euros ( $2,062) made on cryptocurrency trading, according to Bloomberg. Historically,
Decentralized finance (DeFi) protocol Trader Joe has announced its very first expansion from Avalanche and onto the Ethereum ecosystem, as part of its plans to access new markets and drive up user activity. The decentralized trading platform announced its “multi-chain” expansion into Ethereum layer-2 scaling solution Arbitrum One on Dec. 1 and follows around a
BNB Chain-based decentralized finance (DeFi) protocol Ankr has confirmed it has been hit by a multi-million dollar exploit on Dec. 1. The attack appeared to be first discovered by on-chain security analyst PeckShield at approximately 12:35 am UTC on Dec. 2. Within an hour of the attack, Ankr confirmed on Twitter that the aBNB token
Tokenization is the process of converting something with tangible or intangible value into digital tokens. Tangible assets like real estate, stocks or art can be tokenized. In a similar vein, intangible assets like voting rights and loyalty points can be tokenized, too. We see Avios as an example of tokenized loyalty points by the traditional
Former FTX CEO Sam Bankman-Fried (SBF) has been lambasted this week following a series of controversial public appearances, with Galaxy Digital’s Mike Novogratz one of the latest to dish out a lashing to the former kingpin of crypto. On Dec. 1, Galaxy Digital CEO Mike Novogratz unleashed a tirade of criticism towards SBF concerning his
While many crypto exchanges have seemingly embraced the use of proof-of-reserves (PoR) to showcase their transparency and reassure nervous users, crypto analyst Martin Hiesboeck insists such so-called proofs are susceptible to manipulation or misrepresentation. He added that PoRs alone are not a suitable method of verifying an exchange’s reserves because they do not “account for
According to a new filing with the U.S. Securities and Exchange Commission on Dec. 1, crypto ATM operator Bitcoin Depot said it “remains on track to complete its previously announced business combination with GSR II Meteora Acquisition Corp.” The merger with the special purpose acquisition vehicle, or SPAC, is scheduled to occur in the first
According to a new proposal dated Dec. 1, directed acrylic graph network Fantom seeks to implement an affiliate program for its decentralized application, or dApp, developers with network gas fees. To fund this venture, the Fantom community has proposed slashing the protocol’s current FTM token burn rate from 20% to 5%. In supporting the proposal,
Disparities in information access and data analytics technology are what give institutional players an edge over regular retail investors in the digital asset space. The core idea behind Markets Pro, Cointelegraph’s crypto-intelligence platform powered by data analytics firm The Tie, is to equalize the information asymmetries present in the cryptocurrency market. Markets Pro bridges the
A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes