For over 14 years, central banks worldwide have seen blockchain technology deliver highly secure, immutable, verifiable and transparent financial ecosystems, starting with the Bitcoin network. Central bank digital currencies (CBDCs) stood out as one of the ways for fiat currency to harness a part of what cryptocurrencies achieve today. To not only keep up with
The international monitoring body Financial Stability Board, or FSB, called for a global framework aimed at regulating and supervising crypto in the wake of FTX’s collapse, also saying it would assess vulnerabilities associated with decentralized finance. In a Dec. 6 meeting in Basel, the FSB said it planned to “enhance its crypto-assets monitoring framework” to
Following the collapse of FTX at the beginning of November, two top executives from FTX and Alameda Research — Sam Bankman-Fried and Caroline Ellison — have been listed among traders with the top trading losses worldwide on Wikipedia. According to the Wiki page, Bankman-Fried’s and Ellison’s so-called ‘trading loss’ of 51 billion nominal U.S. dollars
Bitcoin (BTC) spending an “unprecedented” period below a key moving average is a poor guide to the 2022 bear market. That was the opinion of analyst Superswell, who this week championed on-chain metrics as a way of understanding current BTC price action. “Business as usual so far” for Bitcoin bear market In a series of
Vitalik Buterin says that money, blockchain identities, decentralized finance (DeFi), decentralized autonomous organizations (DAOs) and hybrid applications are the top developments he is excited about in the Ethereum ecosystem. In a Dec. 5 blog post, the Ethereum co-founder describes his experience of using Ether (ETH) as a means of payment in a cafe in Argentina: “When we
Silvergate Capital CEO Alan Lane has slammed “short sellers” and “other opportunists” for spreading misinformation over the last few weeks — just to score themselves a quick buck. In a Dec. 5 public letter, Lane said there was “plenty of speculation – and misinformation” being spread by these parties to “capitalize on market uncertainty” caused
As the global crypto community is still licking its wounds from the FTX collapse, a liquidity crisis continues to spread around centralized exchanges and decentralized finance (DeFi) alike. It is soon to be decided whether the coming regulation triggered by FTX’s bankruptcy will bring a silver lining to crypto. The Chamber of Deputies of Brazil,
Joseph Longo, the chairman of the Australian Securities and Investments Commission (ASIC) is calling for a regulatory loophole to be closed that allowed FTX to acquire an Australian Financial Services License (AFSL) in the country without the full suite of checks. According to a Dec. 5 report from the Australian Financial Review, Longo made the
On Dec. 5, 2022, at block height 766,080, Bitcoin’s mining difficulty adjustment dropped 7.32% lower, making it the largest difficulty reduction in 2022. The current difficulty is approximately 34.24 trillion and it will remain at this point for the next two weeks or 2,016 blocks. Bitcoin Miners Catch a Break as the Network’s Difficulty Drops
The Kentucky Public Service Commission (PSC) has reportedly opened a formal investigation into two proposed contracts that would offer discounted electricity prices to new crypto-mining operations. According to a Dec. 5 statement from environmental law group Earthjustice, the government department would be looking to determine whether subsidizing crypto mining operations will raise electricity costs for
It’s the final month of the year and analysts are out with their projections for the next year. In a note to investors, Standard Chartered suggested that “The financial-market surprises of 2023” will include Bitcoin (BTC) price diving to $5,000 at some point in the year. The fall will be triggered by a liquidity crunch, which
Bitcoin (BTC) price is showing notable resilience at the $17,000 level, and according to data from Glassnode, a number of metrics that track the pace of selling and the on-chain behavior of investors are beginning to show a reduction in the factors that trigger sharp sell-offs. The FTX bankruptcy fueled a historic sell-off resulting in
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Accepting Bitcoin payments is advantageous due to lower fees than credit and debit cards, expansion of customer base and real-time bank balances. However, risks like volatility and cybercrime may undermine these benefits. Cryptocurrency payments help save excessive credit and debit card processing fees as they are decentralized and do not need intermediaries to verify the
The most talked about crypto lawsuit involving the United States Securities and Exchange Commission (SEC) and Ripple is approaching its conclusion after a two-year-long battle. On Dec. 2, the SEC and Ripple both filed redacted replies to each other’s opposition to motions for summary judgment. Ripple argued in its motion document that the SEC has
Litecoin (LTC) could rise another 20% amid a rare trend reversal breakout that has already resulted in LTC outperforming most crypto assets in recent days. LTC’s not-so-bearish symmetrical triangle LTC’s price broke out of what earlier appeared to be a bearish symmetrical triangle. Symmetrical triangles are trend continuation patterns, meaning breaking out of their range
One of the most powerful moments in a new crypto user’s journey happens the first time they send a sizable amount of money to their private wallet. It’s an awe-inspiring, serious moment — and it’s a little scary to experience the power and personal responsibility of the technology firsthand with your own real money. A
press release PRESS RELEASE. San Marino, Dec 5, 2022 — RBB Lab, a technology development firm based in the Republic of San Marino, has used NFT (Non-Fungible Token) technology to issue court summonses for the case against Alberto De Luigi, Andreas Kohl, both former collaborators of the firm, and their company Sequentia AG incorporated in
Crypto exchange KuCoin hired the international accounting firm Mazars for a third-party audit of its Proof-of-Reserves (PoR). According to an announcement on Dec. 5, the verification will provide the exchange customers additional transparency and reporting on whether their in-scope assets are collateralized, along with details on main, trade, margin, robot and contract accounts for Bitcoin
Australian-based crypto exchange Swyftx has laid off a total of 90 staff members, which it said was in preparation for a “worst-case scenario” caused by the fallout of FTX and a potential fall in global trading volumes next year. The news was shared by Swyftx co-CEO Alex Harper in a Dec. 5 statement, noting that