Day: January 16, 2023

Iran and Russia want to issue new stablecoin backed by gold

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The Central Bank of Iran is reportedly cooperating with the Russian government to jointly issue a new cryptocurrency backed by gold. Iran is working with Russia to create a “token of the Persian Gulf region” that would serve as a payment method in foreign trade, Russia’s news agency Vedomosti reported on Jan. 15. The token is projected to be issued in the form of a stablecoin backed by gold, according to Alexander Brazhnikov, executive director of the Russian Association of Crypto Industry and Blockchain (RACIB). The stablecoin aims to enable…

GAIN Expo, May 04-05, Amsterdam, The Netherlands

Place/Date: – January 16th, 2023 at 11:02 am UTC · 1 min read Contact: GAIN Expo, Source: GAIN Expo Not every leader is an innovator. But every innovator is a leader. 04-05 May in Amsterdam will be held the first event dedicated to innovation in the game industry. Exhibition will feature over 50 exhibitors who want to share their innovative products and developments. How to use it? What is the interest? Why do you need to integrate it into your business now? Take everything you have about NFT, AI, Metaverse,…

Bitcoin Hash Ribbons Trigger Buy Signal

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The collapse of FTX triggered a historic event for the Bitcoin market. In late November, the hash ribbons indicator signaled the beginning of a second wave of Bitcoin miner capitulation within one cycle. As NewsBTC reported, the hash rate dropped dramatically while some of the largest miners reported bankruptcy and dumped their BTC holdings on the market. However, this poor state of the Bitcoin mining industry and the associated pressure on the Bitcoin price may have come to an end. As the net position change of miners already indicated since…

Binance, Huobi team up to recover $2.5M from Harmony One hackers

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Security teams at crypto exchanges Binance and Huobi worked together to freeze and recover 121 Bitcoin (BTC) from hackers behind the Harmony bridge exploit.  In a tweet, Binance CEO Changpeng Zhao announced that the hackers have tried to launder their funds through the Huobi exchange. After Binance detected this, they contacted and assisted Huobi in freezing and recovering the digital assets deposited by the hackers. We detected Harmony One hacker fund movement. They previously tried to launder through Binance and we froze his accounts. This time he used Huobi. We…

Ethereum (ETH) Price Surges to Ten-Week High as Inflation Reduces

Many other notable digital currencies are currently seeing massive gains, bringing the crypto market a remarkable 1.7% increase on the day to surpass the $1 trillion mark. Ethereum (ETH) price has surged to its highest level since November 8 as demand for the network also continues to build up. This follows after ETH consolidated its weekend gains, climbing over 3% in the last 24 hours. According to CoinMarketCap data, ETH hit the $1,579 mark in the early hours of Monday, but has now slightly re-traced its steps and was seen…

Bitcoin Mining Difficulty Soars 10% amid Growing Ecosystem Activity

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With burnout in reserve cash, and the growing prices of Bitcoin and other related assets, most mining firms are indeed left with no options but to intensify their efforts to get their hands on more BTC from their farms.  The Bitcoin (BTC) mining difficulty has grown by as much as 10% to record a new high since October. According to data from BTC.com, the Bitcoin mining hashrate climbed to a high of 37.59 Terahashes atop a hashrate of 271.97 EH/s. The Bitcoin mining difficulty is a measure of how hard…

Thailand Expects First Virtual Banks by 2025

The Bank of Thailand plans to put the virtual banks under a “restricted phase” for a few years after beginning operation. For the first time ever, Thailand will be allowing the operation of virtual banks in the country. The nation’s central bank, the Bank of Thailand, revealed plans to roll out virtual banks as the government tries to boost competition and more. Also, the Southeast Asian country wants to reduce expenses for businesses and individuals and expand loan access. The effort is widely targeted at bolstering the nation’s economy. Bank…

Cornell Professor Warns of Disruption to US Bond Market From Potential Collapse of Major Stablecoin – Economics Bitcoin News

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A professor from Cornell University has warned about the potential effects a collapse of a major stablecoin could have on the U.S. bond market. Eswar Prasad said that if large stablecoins face a collapse, the number of Treasury bonds they would need to sell could disrupt the U.S. Treasuries market, affecting prices. Cornell Profesor Alerts About Stablecoin Collapse Danger Eswar Prasad, an economics professor at Cornell University, has warned about the potential damage a bank run on a possible collapse of a major stablecoin could bring to the traditional finance…

Bithumb ordered to pay outage damages to investors by South Korean court

The ongoing saga of the South Korean cryptocurrency exchange Bithumb continues, this time with ruling from local courts. On Jan. 13 the South Korean Supreme Court finalized its ruling that the exchange must pay damages to investors over a 1.5-hour service outage on Nov. 12, 2017. According to a local news source, the damages are equivalent to $202, 400 – or 251.4 million in the regional currency won. Initially, a district ruled against the investors, though it was later overturned. The finalized ruling from the Supreme Court ordered damages to be…