Month: May 2022

U.S. dollar index retreats from 20 year highs — but will DXY topping spark a Bitcoin recovery?

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The U.S. dollar index (DXY) retreated broadly from its prevailing bull run in the past two weeks, dropping by up to 3.20% after hitting its two-decade high of 105. Overvaluation risks grip dollar market Dollar’s correction in the last two weeks preceded twelve months of relentless buying. To recap, the greenback’s weight against the basket of top foreign currencies grew by around 14.3% in a year, primarily as markets looked for safe havens against the fears of a hawkish Federal Reserve and more recently the military conflict between Ukraine and…

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Blockchain Foundry Pairs with Palmer Group to Launch Web3 Education Platform Metacademy

Canadian blockchain software development company Blockchain Foundry has partnered with Palmer Group to launch “Metacademy”, a Web3 education platform focusing on blockchain, cryptocurrencies, and Non-fungible Tokens (NFTs). Blockchain Foundry Inc. develops and commercializes blockchain-based business solutions and provides consulting services to corporate clients. This announcement came after the launching of the public beta version of Metacademy.com (“Metacademy”). Users can learn and understand various knowledge of the blockchain universe for free on this platform, including cryptocurrencies, NFT, smart contracts, web3, etc. From Blockchain Foundry CEO Dan Wasyluk said: “We are excited…

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Enhance Basic Tech Capacity & Provide All-encompassing Products & Services

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ViaBTC has been one of the pioneers in the crypto industry with an illustrious track record. Recently we caught up with the CEO, Haipo Yang and asked him a few questions about the company, its mission and plans for the future. Read the excerpt of the interview below. Q [NewsBTC]: ViaBTC is a pioneer in the crypto industry, having been around since 2016 – what was the idea behind launching ViaBTC? A [Haipo Yang]: I had my first introduction to Bitcoin and open-source software around 2011. At the time, fascinated…

No Tax Amnesty for Russian Crypto Miners as Lawmakers Withdraw Proposal – Mining Bitcoin News

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A new draft law has replaced an earlier bill introducing a one-year tax and customs amnesty for cryptocurrency miners in Russia. The initial proposal has been withdrawn on the grounds that the tax break would have resulted in losses for the state budget. Revised Crypto Mining Legislation Submitted to Russian Parliament Without Amnesty for Miners Russian lawmakers have again filed legislation with the State Duma designed to regulate cryptocurrency mining. The new draft substitutes a bill submitted at the end of April, which has now been withdrawn. The revised version…

WATCH OUT…SECOND COUNTRY MAKES BITCOIN LEGAL TENDER

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Injective partners with Wormhole to bring 10 new blockchains to the platform

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Decentralized finance (DeFi) protocol Injective (INJ) has partnered with Wormhole to integrate “10 new blockchains” to its network. Injective is a Cosmos layer-2 decentralized exchange (DEX) that offers derivatives, token swaps and sports betting prediction markets. It is also focused on interoperability via cross-chain bridging, and currently supports digital assets from Ethereum, Polkadot and IBC-enabled chains such as Cosmos. Injective Labs, the protocol’s developers, noted in a May 25 announcement that the partnership will enable users to transfer and trade assets across any chain that is integrated with Wormhole. “The…

InsurAce says it will pay millions to claimants after Terra’s collapse

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DeFi insurance protocol InsurAce says it was well within its rights to reduce the claims period for people affected by the Terra USD (UST) depeg event from 15 days to seven — but added it has already processed nearly all 173 submitted claims and will pay out $11 million. InsurAce (INSUR) is the third largest insurance provider for decentralized finance (DeFi) protocols, with a market cap of $15 million. On May 13, InsurAce caused a stir when it announced it had shortened the claims window for those with cover related…

World Bank won’t support Central African Republic’s Sango crypto hub

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The World Bank has signalled its concerns over the Central African Republic (CAR) adopting Bitcoin (BTC) as a legal currency and says it won’t support the newly announced “Sango” crypto hub. At the end of April CAR president Faustin-Archange Touadéra established a regulatory framework for cryptocurrency in the country and adopted Bitcoin as a legal tender. On May 24 he announced a plan to launch the country’s first crypto hub called “Sango”. Sango is described as the country’s first “Crypto Initiative” — a legal hub for crypto related businesses encompassing…