Month: June 2022

Crypto Meltdown Calls for a Decentralized Compliance Layer to Protect User Interest

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Over the last few weeks, the cryptocurrency market has been rocked by extreme volatility. There has been a steep decline in the price of digital assets. Such has been the meltdown in that the entire market cap has fallen under $1 trillion, which surpassed the $3 trillion mark at the peak of the bull cycle. Being a nascent market means high volatility is a common phenomenon at this stage of growth. That said, this volatility has made crypto so attractive to investors and speculators. However, volatility doesn’t always mean just…

Metaverse protocol OVER launches unique treasure hunt in partnership with the Sandbox

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OVER, a decentralized metaverse platform that provides surreal AR/VR experiences, has revealed its partnership with The Sandbox to launch a unique reward program for their communities. This development continues the growing relationship between the two platforms. To recall OVER had enabled a cross-platform experience for its users on the Sandbox ecosystem in April. This update enabled Sandbox users to control their NFTs on OVER and invite their friends to partake in activities without having to leave the OVER app. This latest partnership takes this a step further as Sandbox users…

Russian Ruble Taps 7-Year High Against the US Dollar — Economist Says ‘Don’t Ignore the Exchange Rate’ – Economics Bitcoin News

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Recent news reports have detailed that Russia’s fiat currency, the ruble, was the best-performing currency worldwide and the articles explained that American economists were perplexed by the trend. On Monday, the Russian ruble rose to 55.47 per dollar, which was the highest increase since 2015. While many have dismissed the ruble’s exchange rate, Charles Lichfield, the Atlantic Council’s Geoeconomics Center deputy director, published an editorial called: “Don’t ignore the exchange rate: How a strong ruble can shield Russia.” Russia’s Ruble Climbs Higher — Report Says ‘Putin Is Having the Last…

Bitfarms sold 3K Bitcoin as part of strategy to improve liquidity and pay debts

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Canadian crypto mining firm Bitfarms sold roughly $62 million worth of Bitcoin (BTC) in June, using the proceeds from the sale to reduce its debt. In a Tuesday announcement, Bitfarms said it had sold 3,000 Bitcoin in the last seven days, roughly 47% of the crypto mining firm’s roughly 6,349 BTC holdings. According to the company, it will use the funds from the BTC sales — $62 million — to “rebalance its indebtedness by reducing its BTC-backed credit facility with Galaxy Digital.” The sold crypto seemingly included 1,500 BTC Bitfarms…

"Most People Have No Idea What Is Coming" — Robert Kiyosaki's Last WARNING Is Bitcoin The Answer?

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Cardano Vasil Hard Fork Launch Date Set, Time To Buy The News?

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The highly anticipated Vasil Hard Fork on the Cardano network has been rescheduled. The hard fork was expected to push forward work that had been done on the network over the last couple of years. Due to this, the news of the June 29th launch had sparked a lot of enthusiasm for the network and had seen the price of its native token, ADA, surge. Now, with the delay, investors have had to reassess their stance and strategy when it comes to Cardano. When Is Vasil Hard Fork Launching? According…

90% of Central Banks are researching the utility of CBDCs

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In a new annual economic report published by the Bank of International Settlements (BIS), the financial institution revealed that approximately 90% of central banks worldwide are investigating the feasibility of adopting central bank digital currencies, or CBDCs. The BIS report highlighted the ability of current sovereign fiat money to provide (relative) price stability and public oversight while criticizing crypto’s inability to perform “basic fundamental functions of money” and their opacity with regards to accountability to the general public.  However, the report did highlight crypto’s programmable nature as well as the…

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Bitcoin’s Stock To Flow Model is Really Not Looking Good, Says Ethereum’s Vitalik Buterin

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Summary: Ethereum’s Vitalik Buterin has criticized Bitcoin’s stock-to-flow model by PlanB. Vitalik explains that the stock-to-flow model is not looking good, and financial models that give people false hope deserve all the mockery they get. Mr. Buterin also asked the crypto community to remember all who supported the Bitcoins stock-to-flow model and those who mocked it back when it looked accurate. Ethereum’s co-founder, Vitalik Buterin, has criticized the longstanding Bitcoin stock-to-flow model introduced by PlanB in mid-2019. Financial Models That Give False Certainty are Harmful, Deserve all the Mockery They…