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5 High-Profile Cryptocurrency Implosions Shatter Trust, Wipe out Billions in Value During 2022’s Crypto Winter
26.2.2023
2022 was a year of phenomenal cryptocurrency blowouts, as several projects collapsed and many more are on life support after the entire ecosystem was shattered. The fallout from these digital currency projects has not only removed billions of dollars in value from the crypto economy, but also...
Solana Blockchain Experiences Technical Glitch Causing Transaction Slowdowns
25.2.2023
The Solana smart contract token network experienced a technical glitch on Saturday, February 25, 2023, known as a “large forking event,” causing transaction failures for some users. Solana’s incident report referred to it as “cluster instability” and indicated that...
BUSD Stablecoin Drops from Top 10 Crypto Assets Amid Significant Decrease in Dominance
25.2.2023
After Paxos announced that it would no longer mint the stablecoin BUSD, 4.98 billion BUSD stablecoins have been removed from circulation to date. The Paxos-managed stablecoin has also fallen out of the top ten crypto assets by market capitalization, slipping below dogecoin’s valuation with...
Citizens Trust Bank to Hold $65 Million in USDC Reserves as Circle Expands Bank Partnerships
25.2.2023
On Friday, the cryptocurrency firm and stablecoin issuer Circle announced that the financial institution Citizens Trust Bank will hold $65 million in usd coin cash reserves. Circle said the move is part of the company’s plan to allocate shares of the stablecoin’s denominated reserves...
Nigerian Central Bank Seeks New CBDC Tech Partner — Bank Urged to Improve E-Naira User Experience
24.2.2023
More than a year after it launched its central bank digital currency with partner Bitt Inc, the Central Bank of Nigeria is reportedly seeking a new technology partner. The new partner is expected to help the central bank implement a system which gives it greater control of the digital currency....
US Lawmaker Launches CBDC Anti-Surveillance State Act to Protect Americans’ Right to Financial Privacy
24.2.2023
U.S. Congressman Tom Emmer has introduced the Central Bank Digital Currency (CBDC) Anti-Surveillance State Act “to halt efforts of unelected bureaucrats” from “stripping Americans of their right to financial privacy.” The bill also prohibits the Federal Reserve “from...
Developers Propose Cross-Chain Bridge for XRPL Network to Enhance Blockchain Interoperability
23.2.2023
Software engineers and members of the development lab Ripplex want to create a cross-chain bridge for the XRPL network to bolster cross-chain transfers between different blockchain networks. According to a recent Github draft, the proposal outlines how the cross-chain bridge could function...
Bank of Japan to Launch Digital Yen CBDC Pilot Later This Year
22.2.2023
The Bank of Japan is preparing to launch a pilot test for a digital yen, its central bank digital currency (CBDC), later this year. Shinichi Uchida, executive director of the Bank of Japan, explained that the goals of this new pilot are to test the technical feasibility of the currency and...
Lebanon Financial Crisis: Banks Torched After Pound Taps New Low Versus the US Dollar
22.2.2023
The Lebanese pound’s fall to its lowest ever versus the U.S. dollar, 80,000 to 1, has piled more misery on residents whose local currency-denominated savings have been decimated by inflation. The ongoing strike by banks demanding the passage of capital control legislation has compounded...
Helium Network Migration to Solana Blockchain in March Drives Significant Gains for SOL and HNT Tokens
20.2.2023
Over the past seven days, the crypto asset solana has increased more than 23% against the U.S. dollar after the announcement that the Helium Network plans to migrate to the Solana blockchain on March 27. Helium Network’s native token, helium, has also risen, jumping 25% over the past week...
San Francisco's Move to Hire CBDC Developer Signals Digital Currency Progress – Here's the Latest
20.2.2023
Joining the growing ranks of public actors across the world who wish to jump on the central bank digital currency (CBDC) wagon, the Federal Reserve Bank of San Francisco is looking for an experienced CBDC developer under a job opening titled “Senior Application Architect - Digital Currency”.
The...
Russia’s Yandex Search Engine Adds Cryptocurrencies to Its Converter
20.2.2023
Yandex, the largest Russian search engine, has updated its currency converter, adding cryptocurrencies. The widget now shows the rates of these coins in a number of fiat currencies, with plans to introduce crypto-to-crypto pairs in the future as well. Yandex Integrates Leading Cryptocurrencies Into...
Bank of Russia to Start Testing Digital Ruble With Real Users on April 1
20.2.2023
The Central Bank of Russia plans to launch test operations with digital ruble transactions between real customers at the beginning of April. More than a dozen banks will join the upcoming stage of the pilot project, a high-ranking representative of the bank announced to Russian media. Russia’s...
Bitcoin Continues to Record Blocks Above the 3.75 MB Range as Ordinal Inscriptions Near 150,000
19.2.2023
As Ordinal inscriptions approach the 150,000 mark, blocks larger than 3 MB have become commonplace, with many blocks near the 4 MB range. Meanwhile, after the average transaction fee on-chain rose 122% higher at the beginning of February 2023, the average fee has remained the same over the last...
San Francisco Fed is Seeking CBDC Developer as More Countries Join the Race
19.2.2023
The Federal Reserve Bank of San Francisco has announced a vacancy for a CBDC developer as the federal bank aims to explore the cost and benefits of the potential technologies for central bank digital currencies.
The San Francisco Fed posted a job opening titled “senior application developer...
Zambia Testing Technology to Regulate Cryptocurrency — Government Minister
19.2.2023
The Bank of Zambia and the country’s securities regulators are currently testing the technology to regulate cryptocurrencies, a Zambian government minister has said. According to Felix Mutati, cryptocurrency is a revolutionary technology that embodies a future his country desires to achieve....
Central Bank of Brazil President States Digital Real Pilot Is Imminent
17.2.2023
The president of the Central Bank of Brazil, Roberto Campos Neto, has clarified the status of the development of the Brazilian central bank digital currency (CBDC), the digital real. Campos Neto stated that the pilot test will start now and that banks will have to digitize more of their balances...
Former FTX Executive Accused of Fueling a Charity Through Discounted FTT Purchase
15.2.2023
A former executive of FTX allegedly earned profits for a charity by purchasing discounted FTX tokens, FTT, before they became available to the public at $0.05 per unit, according to a report citing anonymous sources. Ruairi Donnelly, the former chief of staff at FTX, has been accused of donating...
Ukraine Speeds Up Digital Hryvnia Project, Plans Pilot for This Year
15.2.2023
Ukrainian authorities are speeding up the development of the electronic hryvnia, a high-ranking government official indicated. The executive power in Kyiv is now in talks with the central bank and businesses involved in the project to pilot the digital currency as early as this year. Minister Says...
Binance CEO: crypto industry will probably move to non-dollar stablecoins
14.2.2023
The Binance CEO claimed that algorithmic USD stablecoins may become more popular as well, although they “have risks.”