On Wednesday, Marjorie Taylor Greene (MTG), a Republican member of the U.S. House of Representatives, shared an article about the Federal Reserve’s Fednow project and criticized the central bank’s digital currency efforts. The representative from Georgia insisted that the U.S. should return to the “gold standard” and said she’s taking a “hard pass” on digital
A new report from the United States Treasury Department analyzing decentralized finance concluded that actors from the Democratic People’s Republic of Korea as well as other scammers are able to exploit vulnerabilities to facilitate money laundering. In its ‘Illicit Finance Risk Assessment of Decentralized Finance’ report released on April 6, the U.S. Treasury said many
Dogecoin was one of Thursday’s biggest movers, as the meme coin fell by as much as 9%. The decline comes as market sentiment begins to shift, following huge gains to start the week. Litecoin was also in the red today, with prices hovering near the $90.00 level. Dogecoin (DOGE) Dogecoin (DOGE) fell for a third
Tether (USDT) continues to benefit from the ongoing turmoil in the U.S. dollar-backed stablecoin industry with its market capitalization growing significantly in Q1 2023 at other stablecoins’ expense. Tether market cap reaches $80 billion On April 6, the circulating market cap of USDT surpassed $80 billion for the first time since May 2022 with a
In the past 20 days, the Arbitrum blockchain has recorded a significant number of transactions coinciding with the recent ARB airdrop that occurred on March 23. About two weeks ago, on that day, the Arbitrum network recorded an all-time high of 2.72 million transactions settled in 24 hours. L2 Network Arbitrum Records 2.72 Million Transactions
The Web3 project team of Japan’s ruling Liberal Democratic Party has released a white paper containing suggestions for expanding the nation’s industry, which has been incorporated into the national strategy by Prime Minister Fumio Kishida’s administration. The Web3 project team aims to bypass the usual bureaucratic processes to formulate regulatory proposals for everything from nonfungible
Islamic banking and finance is a system based on the principles of Shariah, or Islamic law, which, among many other things, prohibits the charging or paying of interest on loans and emphasizes ethical and equitable financial transactions. One of the more notable traits of Islamic banking is its prohibition on charging or paying interest on
Bitcoin was once again trading below $28,000, as markets consolidated ahead of Friday’s non-farm payrolls report. Payrolls are expected to come in at 240,000 for last month, with the unemployment rate in the U.S. remaining at 3.6%. Ethereum was also lower today, following an eight-month high on Wednesday. Bitcoin Bitcoin (BTC) was once again trading
Blockchain exploits can be extremely costly; with poorly designed smart contracts, decentralized apps and bridges are attacked time and time again. For example, the Ronin Network experienced a $625-million breach in March 2022 when a hacker was able to steal private keys to generate fake withdrawals and transferred hundreds of millions out. The Nomad Bridge
Lending protocol Sentiment has managed to recover the stolen funds from the recent hack by offering the hacker a bounty worth $95,000. In an on-chain transaction on the Arbitrum blockchain, Sentiment sent a message to the hacker offering $95,000 if the hacker returned the funds by April 6, urging the hacker to “do the right
The collapse of the FTX exchange and its subsidiaries in November 2022 also led to the shutdown of its philanthropic arm, FTX Future Fund. The philanthropic arm had pledged $1 billion in donations toward research academics across prestigious universities. However, the team behind the project resigned after FTX filed for bankruptcy on Nov. 11, 2022. Many
The Chinese government appears to be more bullish on the cryptocurrency industry than one might think, as a major state company is reportedly launching new cryptocurrency funds. CPIC Investment Management, a subsidiary of China Pacific Insurance Company (CPIC), is launching two crypto funds in partnership with the investment firm Waterdrip Capital, the local tech-focused agency
sponsored The world of cryptocurrencies and blockchain has exploded in recent years. However, a lack of understanding surrounding this technology has led to a number of false beliefs and misconceptions, causing many people to approach digital assets with unwarranted suspicion and uncertainty. To combat this, Binance has made it part of its mission to provide
The United States’ attempts to “assassinate crypto” are illegal and unlikely to succeed because “crypto is global,” Steven Boykey Sidley, a South African professor and author, has argued. According to Sidley, many formerly U.S.-based companies and innovators have fled the country and have set up bases in countries with more “comfortable” regulatory environments. The United
Bitcoin (BTC) saw another failure to exit a tight trading range into April 6 as $28,000 again hung in the balance. Analysis sees traders “compressing” BTC price Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading below the the $28,000 mark at the time of writing. The pair had approached $29,000 the day prior,
The largest economy in Africa has a foreign investment problem despite exponential growth in crypto adoption. The National Bureau of Statistics (NBS) reported on Tuesday that foreign direct investment (FDI) in Nigeria, the largest economy in Africa, dropped by 33% last year due to a severe shortage of dollars. The shortage has also discouraged crypto
The Australian Securities and Investments Commission (ASIC) has canceled the license of Binance Australia Derivatives after a targeted review of Binance’s operations in the country. “ASIC has today canceled the Australian financial services license held by Oztures Trading Pty Ltd trading as Binance Australia Derivatives,” the securities regulator stated in the official announcement on April
One of China’s leading insurers has backed the establishment of two crypto investment funds in Hong Kong. The business move comes against the backdrop of the region’s ambitions to become a hub for digital assets, and despite the negative regulatory attitude towards the market in the mainland. Chinese Insurance Giant Enters Crypto Space Through Hong
The most significant advantages of trading cryptocurrencies are quick profit generation, secure value storage, low fees and universal accessibility. Meanwhile, crypto assets’ inherent risk and volatility count as disadvantages. The main benefit of cryptocurrency trading is the potential to generate quick profits by taking advantage of short-term price movements and market trends. Some cryptocurrency traders
Singapore regulators work together with traditional banks to develop uniform standards for screening potential customers from the crypto industry. The collaboration has been ongoing for the last six months. According to a Bloomberg report from Apr. 6, the Monetary Authority of Singapore (MAS) has been working alongside the police forces to help local banks optimize