The central bank of Georgia intends to publish a document detailing the concept of a national digital currency in the coming months. Other participating parties will use it to finalize their proposals for the pilot which the monetary authority plans to initiate in the first half of the year. Financial Authorities in Georgia Gear Up
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Bitcoin (BTC) and Ether (ETH), the top two cryptocurrencies by market capitalization, have always been pitted against each other. With the start of the new year, the first debate has surfaced comparing BTC’s capped supply of 21 million to ETH’s deflationary supply, with disagreement over which of the two qualifies as sound money. An Ethereum-focused
Amid the centralized cryptocurrency exchanges (CEX) crisis, crypto exchange Binance is moving to improve its institutional trading services with cold-custody opportunities. On Jan. 16, Binance announced the official launch of Binance Mirror, an off-exchange settlement solution that enables institutional investors to invest and trade using cold custody. The newly launched Mirror service is based on Binance Custody, a
Digital assets will largely decouple from traditional equity markets in 2023, believes Arca chief investment officer Jeff Dorman. Discussing his outlook for 2023 in a recent interview with Cointelegraph, Dorman argued that as the global economy enters a recession this year, equities will be negatively affected while some cryptocurrencies will perform well. The value of
Bitcoin (BTC) shows the potential of stretching its ongoing price recovery to $25,000 by March, based on a mix of bullish technical and macro indicators. Bitcoin price exits descending channel range First, Bitcoin’s potential to hit $25,000 comes from its exit from a prevailing descending channel range. A bull run or bull trap? — Cointelegraph
The same week that Bulgarian authorities were raiding Nexo’s offices and indicting four individuals for charges related to money laundering, the crypto lender filed suit in the Cayman Islands. In a document dated Jan. 12, Nexo filed a lawsuit against the Cayman Islands Monetary Authority, or CIMA, for denying its registration as a virtual asset
According to reports, the founders of the now-defunct crypto hedge fund Three Arrows Capital (3AC) are seeking to raise $25 million from investors to start a new crypto exchange called GTX. This solicitation for new capital comes after 3AC co-founders Su Zhu and Kyle Davies were subpoenaed over the social media platform Twitter. Pitch Deck
Bitcoin (BTC) is trading at its highest levels in over two months, but the phrase on every trader’s lips is “bull trap.” After delivering 25% returns in a single week, BTC/USD remains under suspicion among Bitcoin bear market survivors. Bitcoin bull trap fails to convince It has been called the “biggest bull trap” ever seen,
The Central Bank of Iran is reportedly cooperating with the Russian government to jointly issue a new cryptocurrency backed by gold. According to the Russian news agency Vedomosti, Iran is working with Russia to create a “token of the Persian Gulf region” that would serve as a payment method in foreign trade. The token is
Bank of Thailand has disclosed plans to allow virtual banks to operate in the country for the first time. Financial firms will be able to provide services by 2025, a Bloomberg report shows. The “Consultation Paper on Virtual Bank Licensing Framework” published by the central bank says that applications will be available later in 2023
The exchange rate of the Egyptian pound versus the U.S. dollar fell to a new low on Jan. 11 after it tapped 32.14 per greenback. The currency’s latest significant depreciation came just a few months after it adopted a flexible exchange rate regime. According to the International Monetary Fund, the monetary authorities in Egypt have
The highly-referenced Bitcoin Fear and Greed Index moved into neutral territory over the weekend following several months of fear. On Jan. 15, the index reached a neutral level of 52, its highest since April 5. The move follows a 24% gain for the BTC over the past seven days. The market sentiment tracker hit a
MetaMask users are set to have access to Ethereum liquid staking providers Lido and Rocket Pool courtesy of a new integration unveiled by ConsenSys. MetaMask Staking will unlock the ability for users to stake Ether (ETH) through the Lido and Rocket Pool protocols, touting the service to improve the security and decentralization of the Ethereum
Despite the belief of many crypto enthusiasts that centralized exchanges (CEXs) are safer, history has often shown them to be rather vulnerable to attacks. Because these exchanges centralize the storage of users’ assets, they can be attractive targets for cybercriminals. If an exchange’s security measures are inadequate or successfully compromised, user assets may be stolen
SkyBridge Capital founder Anthony Scaramucci is investing in a crypto company founded by the former president of FTX US. Scaramucci told Bloomberg in an email that he would be investing his own personal funds to support ex-FTX US president Brett Harrison’s new venture, which was revealed just three weeks after the collapse of crypto exchange FTX. It
Larry Fink (BlackRock CEO) gives POWERFUL investment prediction & advice: ‘Invest in Crypto!’ Larry Fink is an American billionaire businessman w/ an estimated net worth at $1Billion. He sits on the boards of the Council on Foreign Relations and World Economic Forum. BlackRock is the largest money-management firm in the world with more than $10Trillion
Bitcoin (BTC) may be circling its highest levels in months, but few are convinced that the bull market is back. Ahead of a key weekly close, BTC/USD remains near $21,000, data from Cointelegraph Markets Pro and TradingView shows, with analysts nervous about the good times ending all too soon. Bitcoin to see new “depression” before
The cryptocurrency markets have made a strong comeback in the past few days. That drove the total crypto market capitalization to $995 billion on Jan. 14, according to CoinMarketCap data. Bitcoin (BTC) led the recovery from the front and skyrocketed above $21,000 on Jan. 14. After the sharp rally, the big question is whether the
Siika Mileva, a spokesperson for Bulgaria’s chief prosecutors, denied political motivations behind the probe against the crypto lending firm Nexo, according to local reports. The comments were made in response to claims that the investigation had a connection to the company’s political donations. Almost all cases where a prosecution launches an investigation that affects someone’s