The Central Bank of Russia has detailed two methods for implementing the digital ruble and other state-backed coins in international settlements. The monetary authority also plans to start testing consumer-to-business (C2B) operations in the first quarter of the year. Russia’s Central Bank to Propose Platforms for Digital Currency Payments in Foreign Trade Moving forward with
While the United States holds the biggest share of Bitcoin (BTC) hash rate contribution and ATM network, the city hosting the most reachable Bitcoin nodes — a crucial pillar of the Bitcoin network — is Frankfurt, Germany. Bitcoin nodes are a distributed network of computers that run the Bitcoin software and accept a set of
press release PRESS RELEASE. Victoria, Seychelles 11 Jan 2023 – Leading crypto exchange Bitget launches the Fund Custody service for professional investors and institutions. The service will provide dedicated wallets to qualified accounts to maximize protection of customers’ funds on the platform. The exchange also recently released the latest snapshot of its Merkle tree Proof
Ethereum layer-2 on-chain activity has been increasing to the extent that the leading two networks now process more transaction volume than mainnet Ethereum. Layer-2 networks Arbitrum and Optimism have seen an increase in transactions over the past three months. Comparatively, aside from a few spikes, transactions on the Ethereum network have declined by around 33%
Argentina’s Ministry of Economy, the country’s economic policy manager, has drafted a bill to encourage Argentines to declare their cryptocurrency holdings with the inducement of discounted tax rates. Aimed at combating money laundering, the “Externalization of Argentine Savings” draft law was introduced by economy minister Sergio Massa according to a Jan. 6 report by local
On Jan. 10, 2023, the World Bank published its Global Economic Prospects report, stating that the outlook for the global economy and future economic conditions is bleak. According to the report, 2023 growth forecasts have been cut across the board, with the global economy projected to grow by 1.7% in 2023 and 2.7% in 2024.
Galaxy Digital Holdings CEO Mike Novogratz has hosed down fears over the crisis facing Digital Currency Group (DCG) and Genesis, saying while it’s “not good news,” it won’t “include a lot of selling.” In a Jan. 10 interview on CNBC’s Squawk Box, Novogratz said he expects the current debacle facing DCG and its related companies
The U.S. government has arrested and charged the creator of “Mutant Ape Planet” non-fungible tokens (NFTs) for allegedly defrauding crypto investors. “The purchasers were ‘rug pulled,’” the Department of Justice (DOJ) described, adding that millions of dollars in cryptocurrency were diverted for the NFT creator’s personal benefits. DOJ Takes Action Against NFT Rug Pull Scheme
Bankrupt crypto lender Voyager Digital received initial court approval for its proposal to sell its assets to Binance.US for $1.02 billion. The approval comes amid a national security probe concerning Binance.US that Voyager is seeking to speed up. On Jan. 10, Judge Michael Wiles in the United States Bankruptcy Court for the Southern District of
The Tron-based stablecoin USDD fell below $1 parity again during the first week of 2023 and on Jan. 10. Four days ago, the stablecoin dropped to $0.972 per unit and on Tuesday, Jan. 10, 2023, USDD slipped to $0.977 per unit. At the time of writing, the Tron-issued stablecoin is trading at 98 cents per
The average crypto investor probably isn’t planning on dying of old age anytime soon, but that doesn’t mean they shouldn’t have a plan in place to pass on their crypto in the event they meet an unlikely demise, lawyers warn. Speaking to Cointelegraph, Dubai-based crypto lawyer Irina Heaver believes that “billions” worth of Bitcoin (BTC)
Digital rights advocacy group Fight for the Future has posted an open letter on its website encouraging the new members of the U.S. Congress to protect privacy. The letter has attracted dozens of companies and organizations as cosigners. “Increasingly, the incredible creative power of U.S. software developers is being chilled by clumsy, misguided legislative and regulatory
A newly-released study published in December 2022 reveals that South Korea’s “kimchi premium,” the divergence in cryptocurrency valuations on Korean exchanges compared to Western trading platforms, is strongly associated with a surge in international remittances to China. Examination of Overseas Remittances to China Uncovers Strong Correlation with South Korea’s ‘Kimchi Premium’ According to a study
The Flare (FLR) token airdrop started on Mon., Jan. 9, nearly two years after a snapshot of Ripple (XRP) holders took place on Dec. 12, 2020. The FLR airdrop was distributed at a ratio of 1.0073 FLR per 1 XRP and the initial distribution saw 15% of the total supply released to the community. A
Albright Capital has dropped its lawsuit against Terraform Labs and its founder Do Kwon, according to a Notice of Voluntary Dismissal filed in U.S. District Court on January 9. Before its dismissal, the lawsuit had alleged that the company had violated the Racketeer Influenced and Corrupt Organizations Act (“RICO”) by operating the stablecoin, UST, as
The United Kingdom remains committed to becoming a world crypto industry hub in spite of the recent negative events that have occurred on the market. It is “the sector I have dedicated the most time to,” Member of Parliament and HM Treasury Economic Secretary Andrew Griffith told a meeting of the UK Parliament Treasury Committee
U.S. law enforcement officials are reportedly scrutinizing Nishad Singh, the former director of engineering at FTX, according to a report citing people familiar with the matter. Another report, published on Jan. 10, 2023, details that Singh met with federal prosecutors at an alleged proffer session held at the U.S. attorney’s office for the Southern District
A group of four United States senators have criticized one of the law firms involved in the bankruptcy case of crypto exchange FTX for conflicts of interest. In a Jan. 9 letter to Judge John Dorsey of the U.S. Bankruptcy Court for the District of Delaware, Senators John Hickenlooper, Thom Tillis, Elizabeth Warren, and Cynthia
While 2022 ended on a grim note with macro headwinds providing little hope of a revival in 2023, the start of a new year has surprised bears with a surge in Bitcoin (BTC), Ether (ETH) and altcoin prices. The period of sparse volatility in the crypto market appears to be ending with a breakout on
Gemini CEO Cameron Winklevoss has published another open letter on Twitter, addressed to the board members of Digital Currency Group (DCG). In the letter, Winklevoss accuses DCG and CEO Barry Silbert of making poor decisions with the now-defunct crypto hedge fund Three Arrows Capital (3AC), and claims that DCG orchestrated a “campaign of lies” in