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Study: 40% of Surveyed African Banks See Fintech and Telcos as ‘High Threats’
20.5.2023
About 40% of 153 African banks surveyed by the latest African Banker annual report said they regard “fintechs and telcos as high threats,” while 69% see artificial intelligence as the “most important technology shaping the industry in the near future.” According to...
Chinese Autonomous Region of Guanxi to Adopt Digital Yuan in Push for ASEAN Trade Integration
20.5.2023
The Chinese autonomous region of Guanxi, located in the south of China, will implement a wide adoption plan for the digital yuan, that includes a push for using it as a trade currency with countries part of the ASEAN bloc. This pilot plan looks to be part of the experimentation to step up the usage...
Expert Claims Proposed BRICS Common Currency Poised to Undermine US Dollar Dominance
20.5.2023
A recent report from China’s Global Times reveals that Zhou Yu, an international finance research director at the Shanghai Academy of Social Sciences, believes that the proposed BRICS cross-border currency is a significant step in challenging the dominance of the U.S. dollar. Zhou asserts...
Bitcoin Voucher Provider Azteco Secures $6 Million Funding Round Led by Jack Dorsey
20.5.2023
On Thursday, California-based bitcoin voucher company Azteco revealed it had garnered $6 million in seed funding through a round spearheaded by Block, Inc.’s CEO and chairperson, Jack Dorsey. Azteco stated that the newly acquired capital would further its objective to “provide...
‘In Hindsight the Metaverse Will Be Obvious and Inevitable’ Says Affyn CEO Lucaz Lee
20.5.2023
Despite the many obstacles that currently make mainstream adoption seem impossible, the metaverse will eventually “mature when gateways that form the access point for entering the myriads of metaverses come onstream,” Lucaz Lee, CEO of Affyn, has said. Lee suggested that when this point...
US Expands ‘Unprecedented Global Sanctions’ on Russia With Over 300 New Targets
20.5.2023
The U.S. has imposed new sanctions on Russia “in coordination with the G7 and other international partners.” Among the targets are “the channels Russia uses to acquire critical technology, its future energy extraction capabilities, and Russia’s financial services sector.”...
Robert Kennedy Jr. to Accept BTC for Campaign Contributions, Says Bitcoin Is an ‘Exercise in Democracy’
20.5.2023
Before taking the stage at the Bitcoin 2023 conference in Miami, U.S. presidential hopeful Robert F. Kennedy Jr. emphasized the democratic nature of bitcoin, calling it an “exercise in democracy.” Additionally, during his Florida appearance, Kennedy revealed that his campaign would...
Marathon and Brink Join Forces to Raise $1 Million for Bitcoin Core Developers
20.5.2023
Bitcoin mining company Marathon Digital Holdings and Brink, a nonprofit striving to support open-source Bitcoin development, recently revealed their collaboration to generate up to $1 million in funding for Bitcoin Core developers. Marathon pledged to match all contributions toward this cause...
FATF President Urges G7 to Lead in Shutting Down ‘Lawless Crypto Space’
19.5.2023
It is necessary to put an “end to the lawless crypto space,” according to the head of the Financial Action Task Force (FATF). G7 nations must set an example in implementing global standards on combating money laundering, the executive insisted, as little progress has been made in regards...
Microbt Unveils New Whatsminer Bitcoin Mining Rig With 320 TH/s, Setting New Standard for Hashpower
19.5.2023
During the Bitcoin 2023 conference in Miami, bitcoin mining rig producer Microbt unveiled three new additions to their Whatsminer series. The latest Whatsminer models, namely the M50S++, M53S++, and M56S++, boast hashpower ranging from 150 terahash per second (TH/s) to an impressive 320 TH/s....
Biggest Movers: ATOM Falls on Friday, Hitting Key Support Level
19.5.2023
Cosmos fell to a key price floor on Friday, as bearish sentiment returned to cryptocurrency markets. Volatility has been high most of the week, with today seeing the global market cap drop by 0.95% as of writing. Chainlink also slipped in today’s session. Cosmos (ATOM) Cosmos (ATOM) dropped...
Bitcoin Mining Gets Tougher as Network Difficulty Reaches New Peak
19.5.2023
On May 18, 2023, at block height 790,272, Bitcoin’s difficulty reached an all-time high after rising 3.22% on Thursday. The network’s difficulty is now at an impressive 49.55 trillion, or 0.90% away from 50 trillion hashes, making it the most difficult it has ever been to discover...
Bitcoin, Ethereum Technical Analysis: BTC Remains Below $27,000, Ahead of Powell Speech
19.5.2023
Bitcoin once again fell below the $27,000 level on Friday, ahead of a panel discussion which includes Fed Chair Jerome Powell. Powell will be holding a discussion with former Chair Ben Bernanke at a conference in Washington. Ethereum was marginally lower today. Bitcoin Bitcoin (BTC) dropped below...
Banks Not Getting Anticipated Benefits From Rate Hikes, ECB Executive Admits
19.5.2023
Eurozone banks are profitable but the benefits from higher interest rates may be smaller than expected, according to the deputy head of the single currency area’s monetary authority. The official noted that while most of the tightening has been done already, more rate increases are to come. Euro...
Bitpay Ceases Prepaid Mastercard Program, Promises Enhanced Card Service in the Future
19.5.2023
Cryptocurrency proponents in the United States are facing increasing challenges when it comes to utilizing digital assets for expenditures. Several crypto companies have encountered difficulties in securing banking partners. This week, Bitpay, a prominent player in the crypto payments sector, made...
Russia and Iran Phasing Out US Dollar in Bilateral Trade Settlements
19.5.2023
The governments of Russia and Iran are starting to phase out the usage of the U.S. dollar to conduct bilateral trade settlements. Russian Deputy Prime Minister Alexander Novak stated that 80% of Russia-Iran trade transactions are settled using national currencies and that they are considering also...
Digital Ruble Law Likely to Be Passed in June According to Russian Official
19.5.2023
The digital ruble law project, which was already discussed and approved in its first reading, could be passed in June, according to Anatoly Aksakov, chairman of the Duma’s Financial Markets Committee. The Bank of Russia is currently waiting for the enactment of this ruleset to conduct a live test...
Binance Halts Deposits and Possibly Withdrawals for Aussie Users After Being Cut Off by Australian Payment Service Provider
19.5.2023
Binance Australia said on May 18 that it is “unable to facilitate PayID AUD deposits for Binance users” due to a third-party payment service provider’s decision to discontinue support for the crypto exchange. Binance Australia said while it works to find an alternative, users...
Hong Kong Launches Digital Currency Pilot With 16 Firms Including HSBC, Bank of China, Alipay
19.5.2023
The Hong Kong Monetary Authority (HKMA) has announced the commencement of its e-HKD pilot which “will take deep dives into potential use cases in six categories.” The pilot paves the way for “the possible implementation of a retail central bank digital currency (CBDC),” the central banking...
Venezuela’s President Declares Inevitable Shift Away From US Dollar in De-Dollarization Push
19.5.2023
Venezuelan President Nicolas Maduro has announced that Venezuela will shift away from using U.S. dollars in trade, emphasizing that the de-dollarization process is “inevitable.” He described: “This is the path of Venezuela and the path of a free economy where currencies are not used...