Noting recent market turmoil, the committee said crypto assets did not yet pose a threat to the wider financial system. They might, however, in the future as they become more integrated into mainstream finance, according to meeting summary notes published Tuesday. The committee focuses on the central bank’s role in maintaining financial stability. Source
The “Art Manifesto” Art Performance Illustrated The Flaws In The Crypto Industry And Introduced A Special NFT Collection With Unique Benefits The ALTER EGO Project Group recently organized a major art event in the city of Venice to celebrate the release of the exclusive NFT art collection, Memento Mori. The “Art Manifesto” event opened a discussion about the ineffectiveness of most crypto projects on the market today. Each NFT grants the holder special privileges and acts as the access pass to an exclusive metaverse experience. The creators of the Art…
Between June 13 and June 27, or roughly two weeks, Tron’s stablecoin USDD dropped lower than the $1 parity and slipped to a low of $0.928 per unit on June 19. During the past seven days, USDD has managed to jump back to the $0.98 to $0.99 region while reaching $1 on July 3. Tron’s USDD Stablecoin Climbs Back Above $0.98 per Unit The stablecoin USDD, issued on top of the Tron network, saw its value slip below the typical $1 parity it held prior to June 13. Prior to…
The domino effect of the 2022 bear market, which saw the downfall of numerous crypto ecosystems and tokens over several months, caught up to GARI token as it tanked over 83% in value in a matter of hours on June 4. While GARI Network brushed off the development as a “market event,” investors suspect a rug pull event. GARI token was launched by Salman Khan, an A-list celebrity from Bollywood, with an aim to help Indian creators monetize their content over a short video application Chingari and its nonfungible token…
The growth of Circle’s native stablecoin USD Coin (USDC) in the last two months compared to its $66-billion rival giant Tether (USDT) is nothing short of spectacular. USDT, USDC market cap ratio hits the lowest on record Notably, USDC’s market capitalization has grown by 8.27% since May, reaching its highest level of $55.9 billion on July 2. In contrast, USDT has suffered an over 19% drop in its market valuation, currently treading around $66.14 billion. USDT circulating market cap. Source: Messari This is the closest USDC has come to challenging…
Netherland-based Maastricht University (UM) is set to recover nearly €500,000 ($512,150) worth of Bitcoin (BTC) after the police authorities managed to solve the infamous ransomware attack in December 2019. In 2019, a ransomware hack targeted the said university and froze all its research data, emails and library resources. The hackers demanded €200,000 in BTC and the university, fearing losing critical research data, decided to pay the said amount . The Dutch Public Prosecution Service (DDPS) managed to track down one of the crypto wallets associated with the hack in 2020 to…
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Sequoia Capital China, the Chinese affiliate of cryptocurrency-friendly venture capital firm Sequoia Capital, is about to raise $9 billion for its four new funds focused on Chinese startups. In raising the capital, Sequoia China has already exceeded its initial target of roughly $8 billion, The Information news agency reported on July 4, citing two people familiar with the matter. The report notes that the final amount of the raise is supposed to be the biggest pool of capital ever raised by a single VC firm focused on Chinese technology startups.…
Nexo said it has a 60-day exclusive due diligence period in which to decide if it will acquire up to 100% of Singapore-based Vauld. Source
Bitcoin (BTC) has a “neutral to positive” outlook despite staying below $20,000, according to ARK Investment Management. In its latest “Bitcoin Monthly” report, the American asset management giant flagged signs that BTC price action is close to bottoming. Wood: “We’re waiting for more capitulation signals” One of Bitcoin’s most vocal supporters, ARK and CEO, Cathie Wood, have stuck with BTC exposure as the market continues to fall from all-time highs. The latest Bitcoin Monthly release confirms that conviction, with Wood, analysts and research associate David Puell suggesting that little ground remains…