Another week has passed and developments in the Binance-Wazirx controversy continue, Nigeria’s Economic and Financial Crimes Commission (EFCC) claims it has identified individuals fueling the naira’s depreciation, Shark Tank star Kevin O’Leary says crypto “desperately needs policy,” and the government of Nepal is preparing to issue its own digital currency. The weekend is here, and
Summary: DeFi aggregator DeBank believes that Ethereum hard forks could be counterproductive. DeBank also shared these remarks after naming ETH’s network as the most prospective chain for Web3 solutions and apps. The service said they do not plan to support any hard forks during ETH’s transition to Proof-of-Stake. Chainlink shared similar comments on Monday. Crypto
The Bank of Russia continues working towards the upcoming adoption of the central bank digital currency (CBDC), planning an official digital ruble rollout in a few years. According to the Bank of Russia’s latest monetary policy update, the authority will begin to connect all banks and credit institutions to the digital ruble platform in 2024.
The excitement around Ethereum’s (ETH) upcoming upgrade, The Merge, which involves the merger of two blockchains — Mainnet Ethereum and Beacon Chain — has unknowingly spurred rumors across the community. Termed the most significant upgrade in the history of Ethereum, The Merge does indeed mark the end of proof-of-work (PoW) for the Ethereum blockchain. However,
Solana (SOL) risks a significant price correction in the coming weeks owing to a classic bearish reversal setup. A 35% SOL price correction ahead? On the three-day chart, SOL’s price has been painting a rising wedge, confirmed by two ascending, converging trendlines and falling trading volumes in parallel. Rising wedges typically result in breakdown, resolving
The government of Uzbekistan, which has previously made significant steps toward a moderate approach to crypto, announced Wednesday that it has restricted access to a number of large international crypto exchanges due to accusations of unlicensed activity. In a statement from Aug. 10, the National Agency of Perspective Projects (NAPP) projects informed that “various electronic
Typically there are macroeconomic factors that a country is looking to manage through the adoption of a currency as legal tender. In order to make Bitcoin legal tender, these factors should coincide with visionary leadership. Despite that, central banks are getting into digital currencies. There are countries with more fundamental problems that just a digital
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Elon Musk: US ’past peak inflation’ after Tesla sells 90%
Amid the crackdown against Tornado Cash, associated addresses, contributing developers, and anyone who uses the mixing platform, the project’s governance token called TORN has shuddered in value. TORN is an ERC20 with a fixed supply that is leveraged for governance proposals and voting. During the last seven days, the Tornado Cash governance token has lost
Crypto lending platform Celsius Network has an approximately $1.2 billion gap in its balance sheet, with most liabilities owed to its users. In addition, the firm has filed for bankruptcy protection, so its future looks bleak. Still, Celsius Network’s native utility token CEL has soared in valuation by over 4,100% in the last two months,
Ether (ETH) is worth more in Bitcoin (BTC) than at any time since the start of the year amid renewed appetite for altcoins. ETH/BTC 1-day candle chart (Binance). Source: TradingView Altcoin market cap returns to $700 billio Data from Cointelegraph Markets Pro and TradingView confirms that ETH/BTC has cleared key resistance to pass 0.08 BTC on
As the global Web3 ecosystem continued to evolve at a staggering pace, so have the various use cases associated with this niche. In a striking new development, a high-ranking Singaporean government minister recently noted that legal marriage proceedings, court case disputes, and government services could one day be conducted using Metaverse platforms. While delivering a
Bitcoin (BTC) is still due to return to near $20,000, fresh analysis warns as BTC/USD attempts to retest multi-month highs. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Buy-the-dip set for invalidation at $20,700 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD staging a second run-up to near $25,000 on Aug. 13, so far seeing rejection.
Summary: U.S. Inflation numbers were released on Wednesday, triggering a move in the price of crypto assets. Consumer Price Index data stood at 8.5% for July 2022. The numbers fell from the 9.1% level reported in June. It’s also the first time U.S. Inflation numbers have dipped since April 2022. Cryptos like Bitcoin and Ethereum
In an article I wrote for Cointelegraph, I commented on how the European Union has moved forward to regulate the crypto-asset market through Markets in Crypto-Assets (MiCA) and Transfer of Funds Regulation (ToFR). With this subject as a background, I had the privilege of interviewing one of the people who knows the most about regulating
The Bitcoin (BTC) mining industry endured immense financial stress throughout the year 2022 as a prolonged bear market directly impacted their earnings when translated to the U.S. dollar. However, miners resilient to the year’s lowest mining revenue day, June 13, witnessed a 68.63% increase in mining revenue within a month. Over the year, revenue from