Crypto Diversification Is Back in 2023
[Jan 25, 2023 2:30 PM] Bitcoin can be viewed as protection from inept central banks (and, yes, a tool for speculation, too).
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China-backed Blockchain Project Proposes SWIFT Alternative for Stablecoins and CBDCs
[Jan 23, 2023 3:30 AM] The company developing China’s blockchain network wants to create a system for international settlements with stablecoins and state-issued digital currencies. The plan is to establish a platform facilitating the use of these two fiat-based…
Central African Republic eyes legal framework for crypto adoption
[Jan 22, 2023 1:04 AM] A 15-member committee is tasked with working on a legal framework that will allow cryptocurrencies to operate in Central African Republic and expedite the development of the national economy.
Silvergate Capital Incurs Loss of $1 Billion in Q4 of 2022
[Jan 20, 2023 3:30 AM] Silvergate Capital Corporation, the parent firm of the crypto-focused bank Silvergate Bank, has attributed the $1 billion loss it incurred in the fourth quarter of 2022 to the confidence crisis that permeates the entire crypto ecosystem. While…
Decentralized forex will reduce cost by as much as 80%: Report
[Jan 19, 2023 3:30 PM] The researchers compared the average cost of remittances according to World Bank data with estimated costs of trading USDC and EUROC stablecoins at Uniswap.
Eurozone Finance Ministers Pledge Support for Digital Euro Project, Talk Privacy
[Jan 19, 2023 2:30 AM] The ministers of finance of the countries in the eurozone reaffirmed their support for efforts to prepare for the potential launch of a digital euro. Meanwhile, the single currency area’s monetary authority sought to reassure future users that the…
Iran and Russia Consider Issuing Gold-Backed Stablecoin, Officials Unveil
[Jan 18, 2023 12:30 AM] Tehran and Moscow are discussing the possible launch of a stablecoin for international settlements, the Russian press revealed. In order to mint the gold-backed currency, however, authorities would need to first regulate crypto assets, a lawmaker…
Georgia Prepares to Launch Digital Lari Pilot in First Half of 2023
[Jan 16, 2023 10:30 PM] The central bank of Georgia intends to publish a document detailing the concept of a national digital currency in the coming months. Other participating parties will use it to finalize their proposals for the pilot which the monetary authority…
Bradesco, One of Brazil’s Largest Banks, Launches Tokenized Credit Notes in Blockchain Pilot
[Jan 16, 2023 6:30 AM] Bradesco, one of the largest banks in Brazil and the third biggest in all of Latam, has entered the cryptocurrency world by issuing its first tokenized credit notes. The operation, carried out in partnership with Bolsa OTC, tokenized almost $2…
Samsung’s Asset Management Arm Launches Bitcoin Futures ETF in Hong Kong
UK Treasury Considers Digital Pound, Maintains Crypto Hub Objective
[Jan 12, 2023 3:00 AM] The U.K. is mulling over launching a digital pound as it remains committed to becoming a cryptocurrency hub, a government representative has indicated. British authorities should also regulate payments with stablecoins, according to the official…
Bank of Russia Outlines Payment Models With Digital Ruble, Other CBDCs
[Jan 11, 2023 2:30 AM] 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…
Crypto service Tap Global becomes first 2023 listing on UK stock exchange
[Jan 10, 2023 3:00 PM] The company provides regulated bank accounts and offers crypto purchases through affiliated exchanges.
Ripple exec expects more crypto acquisitions by TradFi in 2023
[Jan 10, 2023 5:39 AM] Crypto acquisitions in 2023 will further strengthen the industry in the aftermath of casualties like the FTX collapse, a Ripple exec predicted.
Cryptocurrency Rose Ranks in Popularity as Investment Option in Chile in 2022
[Jan 10, 2023 5:30 AM] Cryptocurrencies rose in popularity in Chile, according to a survey from global consulting firm Bain & Company. The survey found that crypto is ranked as the third most popular investment asset among Chileans, only behind investment funds…
Report: Confirmation of Silvergate’s $8 Billion Deposit Plunge Sees Stock Price Drop by More Than 40%
[Jan 6, 2023 3:30 PM] The price of the crypto-focused bank Silvergate Capital’s shares fell by over 40% after it reported a more than $8 billion drop in customer deposits. The share price plunge came just days after U.S. prosecutors reportedly seized collapsed…
ECB’s Fabio Panetta: Unbacked Cryptos Are a ‘Vehicle for Gambling’ Lacking ‘Intrinsic Value’
[Jan 6, 2023 4:30 AM] Fabio Panetta, part of the Executive Committee of the European Central Bank (ECB), believes that unbacked cryptocurrency assets are vehicles for gambling without intrinsic value, which need to be regulated. In an opinion piece, Panetta states that…
Bill on Digital Ruble Submitted to Russian Parliament
[Jan 1, 2022 1:00 AM] A draft law devoted to the digital ruble has been filed with the State Duma, the lower house of Russian parliament. The legislation introduces rules determining how the new form of national fiat will be issued and amends a series of legal acts to…
China’s Digital Yuan Little Used, Former Central Bank Official Says
[Dec 31, 2022 8:30 AM] Trials of the digital yuan have produced disappointing results, according to a report quoting the former head of research at the Chinese central bank. The new form of national fiat has brought no benefits to the banks and should expand beyond being…
Central Bank of Turkey Reports First Payment Transactions on Digital Lira Network
[Dec 31, 2022 2:30 AM] The Central Bank of the Republic of Turkey (CBRT) has conducted the first payment transactions on the test network of the digital lira. The monetary authority intends to proceed with more testing in 2023 and plans to invite banks and fintech…
DeFi flash loan hacker liquidates Defrost Finance users causing $12M loss
[Dec 25, 2022 3:37 AM] Moments after a few users complained about the unusual loss of funds, Defrost Finance’s core team member Doran confirmed that Defrost V2 was hit with a flash loan attack.
ECB to Decide Whether to Issue Digital Euro in 2023
[Dec 24, 2022 5:30 AM] The European Central Bank (ECB) has published a new report on the progress of its investigation into the possible launch of a digital euro. The research will continue next year with the regulator planning to make a decision whether to proceed to…
Rate Hikes Needed to Reduce Eurozone Inflation Despite Recession, Top ECB Official Says
[Dec 22, 2022 9:30 AM] Interest rates will continue to rise while the euro area falls into recession, a high-ranking executive at the European Central Bank (ECB) has indicated. His statements follow the latest rate increase announced by the monetary authority last week…
Bank of Russia to Test International Crypto Payments With Companies
[Dec 20, 2022 5:30 PM] The Central Bank of Russia plans to use cryptocurrency for cross-border payments in trials with private companies, a member of its top management has revealed. The testing will be conducted under a special legal regime that’s currently under…
Bringing community-based solutions to crypto lending can solve trust issues
[Dec 20, 2022 5:00 AM] The crypto lending space is plagued with trust and security concerns, but crypto lending platform BNPL Pay offers an innovative community-based lending solution.
Commodity Analyst Mike McGlone Suggests ‘Bitcoin Appears Poised to Resume Its Inclination to Outperform’
National Bank of Kazakhstan Publishes Whitepaper for Digital Tenge
[Dec 17, 2022 11:00 PM] The central bank of Kazakhstan has completed the second phase of testing for its digital currency and published a whitepaper. The studies carried out by the regulator on its introduction did not identify significant risks for the country’s…
Blackrock Warns of Unprecedented Recession for 2023, Bull Markets Not Returning
[Dec 13, 2022 2:30 AM] Blackrock, one of the largest asset management companies in the world, has warned that 2023 will be a year of recession different from other recessions in the past. As part of its recently issued 2023 Global Outlook report, Blackrock states that a…
BlockFi employees were discouraged from describing risks in internal communications: Report
[Dec 8, 2022 1:30 PM] According to a former employee, an internal team at BlockFi raised concerns about the borrower pool being too concentrated among crypto whales, such as Three Arrows Capital and Alameda.
Binance US eliminates trading fees for Ethereum
[Dec 7, 2022 2:00 PM] This announcement comes months after the crypto exchange removed all trading fees for Bitcoin transactions.