Bitcoin (BTC) will see increased interest from the United Kingdom “very quickly” as fiat currency volatility makes BTC look like a stablecoin. That was the conclusion from Gabor Gurbacs, strategy adviser at investment giant VanEck, one of many flagging Bitcoin’s appeal over the pound this week. UK becomes fertile ground for Bitcoin “orange pill” As
Month: September 2022
To support the Terra community’s efforts to revive the Terra (LUNA) — now renamed Terra Classic (LUNC) — token, crypto exchange Binance announced an off-chain burning mechanism last week. However, after receiving mixed reactions from community members, the exchange revised its burning approach. On Sept. 23, Binance CEO Changpeng Zhao wrote that the exchange will
The controversial Arthur Hayes asks a burning question in his latest blog post. Is the PoS Ethereum prone to centralization? The former BitMEX CEO compares it to the Binance Smart Chain, that’s famously and admittedly centralized. Arthur Hayes also describes how the validator’s disagreements with the majority are going to go, and predicts disaster for
Interoperability-focused blockchain network Cosmos has dropped a new white paper proposing a revamped Cosmos Hub aimed at strengthening interoperability and security, along with key changes to its Cosmos (ATOM) token. The new Cosmos white paper was released on Monday at the Cosmoverse conference in Medellin, Colombia. The upgrades outlined in the white paper are still
Bitcoin (BTC) delivered long-anticipated volatility on Sep. 27 as a squeeze higher resulted in a push beyond $20,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price 9-day highs greet traders Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it added over 7% after the Sep. 26 close. Local highs of $20,344 appeared
Since the founding of Ethereum in 2015, an animating question that plagued the community was answered at exactly 06:42:59 UTC on Thursday, Sept. 15, 2022. Ethereum, the technological layer where a new class of applications and self-organizing organizations are being built, eliminated its reliance on an energy-intensive consensus mechanism called proof-of-work (PoW) to a more
Russia is in the pilot phase of its central bank digital currency development (CBDC), and new reports indicate that the country could use its national digital currency to settle international trade. According to a report published in Reuters, Russia is reportedly planning to use the digital rouble for mutual settlements with China by next year.
ETH, post-merge, has taken traders and investors on a thrilling adventure. The value of Ethereum has decreased by a stunning 26.36 percent since the much-hyped Merge. The token’s recovery from June to August was fully erased by this decrease and the market catastrophe on September 13. Fears of a further decline for the token are palpable
On Sept. 26, the British pound hit a record low against the U.S. dollar following the announcement of tax cuts and further debt increases to curb the impact of a possible economic recession. The volatility simply reflects investors’ doubts about the government’s capacity to withstand the growing costs of living across the region. The U.S.
Tomorrow, September 27th, Ripple partner Bitso will roll out its new payment solution in Argentina. The product will enable users in the Latin American country to access the first QR code payment system in the region powered by XRP and other cryptocurrencies. Bitso is one of the largest exchanges in the region with over 5
Michael J. Burry, the financial wizard who was portrayed in the movie “The Big Short”, is known for predicting crises. For instance, his investment fund made billions from the 2008 housing crash, and Burry liquidated almost all his entire portfolio during the 2Q of 2022. Given that no one seems to know whether traditional markets
The United Kingdom is in focus following the British pound’s fall to a new all-time low against the United States dollar. The sell-off was triggered by the aggressive tax cuts announced by Prime Minister Liz Truss’s government. The 10-year gilt yields have soared by 131 basis points in September, on track for its biggest monthly
It’s been nearly two weeks since Ethereum made its historic transition from proof-of-work to proof-of-stake, and some ex-ETH miners say they remain clueless on how to move forward. Following the Merge, many took to crypto Twitter to discuss what they believe will happen to these former Ethereum miners. On the day of the merge, Twitter
The California Department of Financial Protection & Innovation (DFPI) has filed a desist and refrain order against crypto lending platform Nexo as part of its ongoing investigation of companies offering interest-bearing crypto assets accounts. The agency claims it is joining regulators from seven other American states in taking action against the company. The other states
Crypto lender Nexo is having issues with state authorities from California, New York, Washington, Kentucky, Vermont, South Carolina, and Maryland. The enforcement actions from multiple state securities regulators detail that Nexo’s Earn Interest Product (EIP) may be in violation of securities laws. Nexo Targeted by Several Securities Regulators Over the Crypto Lender’s Earn Interest Product
After the mining failure involving its stablecoin aUSD, the Acala Network announced on Monday that it had resumed its operations following a referendum allowing LPs to withdraw liquidity from pools or unstake LP tokens. The community referendum for Stage 1 of resuming Acala operations has passed and been executed. LPs who choose to unstake LP
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