Cuban President: Ditching US Dollar Frees Countries From Sanctions and Aggression
Cuba’s president, Miguel Diaz-Canel, says the U.S. dollar’s global reserve currency status enables the United States to pursue an “aggressive hegemonistic policy of building walls, imposing punitive sanctions, blackmail, aggression, and…
MUFG to facilitate Japanese bank-backed stablecoins via Progmat Coin platform
MUFG hasn’t revealed what firms will be the first to utilize its platform, however a handful of banks have reportedly already opted for a separate stablecoin solution.
Net Bitcoin ATMs record an increase after 4 months of global downtrend
In the first four months of 2023, the net crypto ATMs worldwide declined by 5,850. In May, however, 1,397 machines were added back to the global crypto ATM network.
US Dollar Will Lose Dominant Status, China and India Could Play Key Role in Currency Shift, Says Economist Lord O’Neill
Lord Jim O’Neill, the British economist credited with coining the acronym BRIC, has explained that the U.S. dollar will lose its dominant status. He expects the Chinese yuan and possibly the Indian rupee to become “much more important…
BRICS Nations to Encourage Use of Local Currencies in Trade
Countries in the BRICS bloc intend to encourage the use of local currencies in cross-border trade, their foreign ministers revealed. The top diplomats, who met in South Africa, also emphasized the importance of financial inclusion, welcoming new…
Crypto Lender Celsius’ $800M Ether Staking Shake-Up Stretches Ethereum Validator Queue to 44 Days
The embattled crypto lender’s ETH staking maneuver could potentially lengthen the waiting time to activate new validators in the Ethereum network to 44 days, one observer noted.
Tanzanian Central Bank Says Forex Restrictions Intended to ‘Safeguard the Stability of the Financial System’
The Tanzanian central bank said on May 31 that foreign currency dealers are required to trade all transactions that exceed $1,000,000 within “interbank foreign exchange market prevailing quoted prices.” According to the Bank of…
Celsius Sets New Standard: $1 Billion In ETH Staked As Deposits Show No Sign Of Slowing
Celsius, a popular lending platform, has made significant moves in staking Ethereum (ETH) as they stake almost $1 billion worth of the cryptocurrency. According to the Blockchain intelligence company Arkham Intel, In the past 24 hours alone…
Rocket Pool to Integrate With Zksync Era, Offering Faster Speeds and Lower Transaction Costs
According to Rocket Pool, a liquid staking derivatives provider, users will have the ability to liquid stake their ETH using the Layer 2 (L2) Zksync Era network. The company clarified that Rocket Pool liquid stakers utilizing Zksync Era will enjoy…
Crypto Biz: Six months on from FTX, Tether mines BTC, and Nvidia’s AI superchips
This week’s Crypto Biz also looks at the crypto industry after FTX collapse, Tether’s Bitcoin mining in Latin America, Tabi’s funding round and Nvidia’s artificial intelligence machines.
US lawmakers aim for crypto regulatory clarity with proposed bill putting the screws to SEC
The framework under the bill would allow certain tokens to qualify as digital commodities if they were decentralized and crack down on the SEC’s previous approach to crypto.
Bitcoin Is Becoming Greener At An Unexpected Pace, Good For BTC Price?
Bitcoin, the world’s most valuable cryptocurrency, is going green, and the pace at which the network has reduced its carbon emissions in the past three years has been noted by climate activists. Nonetheless, how this could impact BTC prices and…
Largest Russian Bank Sberbank Opens Developer Access to in-House Defi Platform
Sberbank, the largest bank in the Russian Federation, announced that it opened access to its in-house decentralized finance (defi) platform to allow developers to test its capabilities. Reports indicate that Sberbank’s Comunity, the…
CleanSpark’s Latest Update Reveals Major Boost In BTC Mined Due To Fees
CleanSpark, Inc., a publicly traded bitcoin mining company, has released its May 2023 bitcoin mining and operations update, revealing significant growth in both its bitcoin holdings and revenue. The company's bitcoin holdings grew by 44% in May…
Bloomberg’s Senior Macro Strategist Predicts More Pain Ahead For Bitcoin
In his latest report titled “Crypto Outlook, June 2023,” Bloomberg’s Senior Macro Strategist, Mike McGlone, predicts more pain ahead for Bitcoin (BTC) and the broader cryptocurrency market. McGlone argues that despite a rebound in…
U.S. House Republicans Push for Crypto Oversight With Bill to Make SEC Play Ball
Crypto exchanges would gain a path to registering with the U.S. Securities and Exchange Commission (SEC) and would be able to trade digital securities, commodities and stablecoins all in one place under a proposal from the Republican chairs of the…
Looking Into The Role Credit Unions Can Play In Bitcoin Adoption
In a recent interview with Bitcoin Magazine, Chief Lending Officer Chase Larson and CEO Jed Meyer of St. Cloud Financial Credit Union, based in Minnesota, discussed their experiences with Bitcoin and their efforts to develop a bitcoin custody…
Bridge Exploits Cost $2B in 2022, Here’s How They Could Have Been Averted
The bridges that are essential to our multi-chain cryptoverse are vulnerable to hacks. But an analysis of some of the biggest exploits of the past year reveals that applying multiple security measures in combination could have blocked the attacks…
Nigerian Central Bank Blasts Naira Devaluation Report — Publication Stands by Its Story
The Central Bank of Nigeria (CBN) said on June 1 that the report claiming it had devalued the local currency to N631 per dollar “is replete with outright falsehoods and destabilising innuendos.” The Nigerian publication Daily Trust has…
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