CoinDesk obtained one of these invitations in order to test out Bluesky. At present, the experience is similar to Twitter, though features are more streamlined. There is no verification strategy, uncensored content, no direct messages or supplemental features like “lists” or Spaces. Users can simply can post, like and repost content on the application. Source
When it comes to providing stable value, stablecoins and central bank digital currencies (CBDCs) appear to serve two sides of the same proverbial coin. Crypto stable assets, however, can provide entirely different use cases — and CBDCs simply cannot compete. The key is programmability — smart contracts that automate and add new features to money. Programmability allows for asset backing and decentralization that is not possible under current CBDC designs. Developers should be taking advantage of the programmable opportunities that stable assets offer rather than trying to compete with CBDCs.…
The European Central Bank (ECB) released its third progress report on digital euro design on April 24. This time the bank looked at access and distribution options that have been endorsed by the ECB’s Governing Council. Convenience is clearly a priority for access to the potential digital euro. Digital euro users would be onboarded by payment service providers (PSPs) following their established procedures, such as Know Your Customer verification. Initially, euro area residents, merchants and governments would be onboarded, with consumers in the European Economic Area and selected third countries…
Republican lawmakers with the United States House Financial Services Committee have released a draft of a bill focused on payment stablecoins rather than overseeing other aspects of digital asset markets. A senior Republican committee staffer involved in drafting the legislation told reporters on April 24 that they had narrowed the scope of a stablecoin bill proposed in September 2022 in response to feedback from lawmakers. The bill, aimed at providing “for the regulation of payment stablecoins,” would be separate from legislation focused on custodial service providers, algorithmic stablecoins, and a…
As ether’s price rose in April, so did the total value locked (TVL) of Ethereum layer 2, or companion, networks, reaching $10 billion on April 14, its highest level yet. TVL has subsequently declined amid a swoon in crypto prices but remains at around $9.29 billion, more than double where it stood at the start of the year, data from layer 2 analytics site L2Beat shows. Source
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Cardano has successfully launched a wrapped bitcoin (BTC) token dubbed cBTC on its anetaBTC testnet. The move is aimed at attracting bitcoin users to Cardano’s DeFi ecosystem. cBTC goes live on the anetaBTC testnet In a bid to attract bitcoin (BTC) liquidity to its burgeoning decentralized finance (DeFi) ecosystem, Cardano, the blockchain network powering ADA, the world’s 7th-largest cryptocurrency has introduced wrapped bitcoin (cBTC) on its anetaBTC testnet. According to the team, the new wrapped bitcoin…
Ron Paul, the former U.S. presidential candidate and former U.S. congressman, has stated that recent geopolitical events have caused nations to start ditching the U.S. dollar. Paul stated that the debasement of the currency, the manipulation of prices, and sanctions against other nations have made other countries afraid of holding dollars. Ron Paul Believes De-Dollarization Is Happening at a Rapid Pace Ron Paul, former U.S. presidential candidate and former U.S. congressional representative, has talked about how he believes de-dollarization is starting to accelerate recently, even if he does not know…
Users in Russia report they once again can use locally issued Mastercard and Visa cards to deposit money on the crypto exchange more than a year following a wartime prohibition on such transactions. Source BinanceBitcoinCryptocryptoexchangeExchangeExchangesliftsReportRestrictionsRussiaRussianUsers CryptoX Portal
When Binance announced the 10,000-euro limit for users inside Russia, it stated “the EU’s fifth package of restrictive measures against Russia” required the limitations. While the sanctions are still in place, this restriction no longer exists on Binance, according to media reports, and neither does the Russian bank cards ban. Last month, however, Binance prohibited peer-to-peer (p2p) trades in dollars and euros for Russian citizens and residents, leaving only the Russian ruble option. The Binance spokesperson confirmed this restriction remains. Source
Bitcoin and select altcoins are at risk of falling below their respective support levels and starting a deeper correction. Bitcoin (BTC) managed to stay above $27,000 for the past three days but its 9% loss last week spooked some newbie traders. Glassnode data shows that short-term holders, who acquired Bitcoin less than 155 days ago, have been moving coins to the exchanges at a loss since April 16. While short-term traders are panicking and focusing on the $25,000 level on the downside, some analysts are turning bullish for the next…