China CBDC Is No Government Version of Bitcoin; Terra’s Luna, Other Altcoins Jump

At the time of publication, bitcoin was trading below $37,500, down about 2% over the past 24 hours. Ether, the second-largest crypto by market cap, was changing hands below $2,600, down about 1% during the same period. A number of altcoins had a good day with Terra’s luna up about 10%, and avalanche and shiba inu registering healthy gains. Cardano and Solana also rose for the day. Source

Why White Hat Hackers Are Vital to the Crypto Ecosystem

Even if the Optimism team had noticed and temporarily paused bridge transactions via the sequencer during a theoretical attack, an attacker could have still wreaked havoc on layer 2 decentralized finance (DeFi). Using the falsely minted OETH, any attacker would be able to drain decentralized exchanges and exploit lending platforms with useless collateral. The exploit would have likely caused irreparable damage within the Ethereum ecosystem and layer 2 users could have had all of their funds rendered useless, with no assets left on the other end of the bridge. Combined,…

EU Members Want to Task New AML Watchdog With Crypto Oversight, Report Unveils – Regulation Bitcoin News

A group of EU nations have reportedly been lobbying to entrust oversight of the crypto space to a new anti-money laundering (AML) agency. Behind the move are concerns that companies dealing with digital assets can be engaged in the processing of illicit funds. Germany Leads Push to Place Crypto Firms Under EU Anti-Money Laundering Supervision Several EU member states, led by Germany, have been urging the European Union to grant a planned anti-money laundering (AML) watchdog powers to oversee businesses in the crypto sector. Quoting knowledgeable sources, Bloomberg revealed these…

Data Says Bitcoin Holds Up To Macro Turmoil Better Than Altcoins

Bitcoin has not had the best couple of things and altcoins have been subjected to the same fate too. The market has continued to succumb to pressure being mounted by various social issues, from the Canada protests to the brewing conflict between Ukraine and Russia. In all of this, however, bitcoin has mounted better resistance and this is apparent in the data. Bitcoin Holds Ahead Of Indexes Bitcoin has once again proven to be the best bet when the market is in turmoil. With the recent downtrend, all of the…

The Metaverse Opportunity for Artists

Launched in March 2021, the fund was initially only for Filipino artists. But with the goal to make the space more inclusive, soon the initiative was extended to include creators of all types – artists, graphic designers, illustrators, animators, motion designers, musicians and more. It was also extended to the furthest corners of Southeast Asia including Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, Timor-Leste and Vietnam. Source

Hedge fund report says Bitcoin price is ‘at a relatively inexpensive place’

There has been a lot of focus on the performance of the stock and cryptocurrency markets over the past year or two as the trillions of dollars that have been printed into existence since the start of the COVID pandemic have driven new all-time highs, but analysts are now increasingly sounding the alarm over warning signs coming from the debt market.  Despite holding interest rates at record low levels, the cracks in the system have become more prominent as yields for U.S. Treasury Bonds “have been rising dramatically” according to…

EU members reportedly plan for AML watchdog to oversee crypto firms by 2024

The European Commission, in coordination with other authorities, reportedly plans to have its financial watchdog group potentially oversee illicit transactions at crypto firms. According to a Tuesday Bloomberg report, a group of European Union member nations led by Germany and including The Netherlands, Spain, Austria, Italy, and Luxembourg plan to include crypto firms under the purview of the anti-money laundering-focused group — purportedly the European Commission’s Anti-Money Laundering Authority first proposed in July 2021. The group will reportedly begin operating in 2024 and be “fully functional” by 2026. An EU…