Month: April 2023

Decentralized science is key to fixing academic research

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Academia and science are both in the throes of a crisis, marked by several inefficiencies directly impacting our scientific prowess and research capabilities. The subject of stagnation within universities and academic institutions is taboo, and there is no place in this system for dissenting intellectuals who challenge the status quo or the quality of scientific research. Decentralized science (DeSci) aims to disrupt these systems for good reason. DeSci paired with blockchain technology has the potential to upend existing funding schemes and enhance collaboration between stakeholders in scientific endeavors. Access to…

Bank of England preparing for greater role of tokenization in finance, official says

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Bank of England deputy governor Sir Jon Cunliffe spoke at the Innovative Finance Global Summit in London on April 17 about the development of tokenization. The UK’s central bank is currently exploring tokenization in bank money, non-bank money and central bank money and the ways tokenized assets will interact. Stablecoins, Cunliffe said, “offer the possibility of greater efficiency and functionality in payments,” but “it is extremely unlikely that any of the current offerings would meet the standards for robustness and uniformity we currently apply both to commercial bank money and…

Total Arbitrum accounts surpass 5M after airdrop hype: Report

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According to statistics compiled by user @Henrystats on Dune Analytics, the number of accounts, or wallet addresses, for Ethereum layer-2 scaling solution Arbitrum (ARB) surpassed 5 million on Apr. 17. Aside from individual addresses, there are now more than four million active accounts in the ARB ecosystem with nearly 200 million transactions having been completed since inception. The growth has come on the back-end of both a busy development cycle for Arbitrum and the hype surrounding its Mar. 23 airdrop, an event that saw the distribution of 1.275 billion ARB…

Bitcoin on-chain data highlights the steps BTC is taking to exit the bear market

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Glassnode’s latest analysis suggests that Bitcoin has built a strong foundation below the $30,000 level, and the current supply structure shows similarities to early 2016 and early 2019. The report shows that the Long-Term Holder (LTH) supply is just shy of a new all-time high with a total supply balance of 14.161 million BTC. In contrast, short-term holders (STH), who acquired coins after FTX failed, have seen their supply balance of 2.914 million BTC remain relatively constant in 2023. Long-term holders are unfazed despite major downturns By April 12, 155…

Polygon calls on EU lawmakers to address smart contracts in Data Act

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Polygon Labs, the core company behind the development of Ethereum layer-2 scaling solution Polygon, has called on policymakers in the European Union to “clarify the scope and intent” of legislation targeting smart contracts. In an open letter published to members of the European Parliament, the European Council and the European Commission on April 17, Polygon Labs proposed Article 30 under the Data Act be amended to apply to permissioned smart-contract-based-systems owned and operated by an “enterprise,” as opposed to permissionless under the current wording. The platform said hardware wallet developer Ledger…

Economist and Political Scientist Refute Claims of US Dollar’s Demise Despite Trend of De-Dollarization News – Bitcoin News

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This year, there has been a flurry of news reports and opinion editorials discussing an alleged de-dollarization trend amid a wave of disclosures associated with the BRICS bloc. In a recent article, the American political scientist and author Ian Bremmer insisted that claims of the U.S. dollar dying are overblown. In addition to Bremmer’s comments, economist Paul Krugman also asserted in a recent op-ed that the greenback isn’t going away anytime soon and called some of the speculators “‘Weimarists,’ people who are always predicting hyperinflation.” Political Scientist Ian Bremmer Insists…

CME Group to expand Bitcoin and Ether option expiries after record daily volume

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On Apr. 17, derivatives marketplace Chicago Mercantile Exchange (CME) Group, announced it will broaden its range of cryptocurrency options by adding new options to its standard and micro-sized Bitcoin (BTC) and Ether (ETH) contracts. Pending regulatory review, these new contracts will be available from May 22, and expiries will be available every day of the business week from Monday to Friday.  According to the announcement, CME Group’s expanded suite of cryptocurrency options will include new expiry dates for Bitcoin and Ether futures contracts. These options will now expire every day from…

Blockchain Association Seeks Information on De-banking of Crypto Companies

The Blockchain Association, a cryptocurrency advocacy group, has filed additional Freedom of Information Law (FOIL) requests to regulators in the US. The group had initially filed for information from the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency. The new requests were submitted to the Federal Housing Finance Agency and the New York Department of Financial Services, seeking further information on the de-banking of crypto-friendly banks. The organization is interested in learning more about the de-banking…

Bitcoin’s chart has some eerie parallels to gold in the 1970s

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Many investors have dismissed the notion that bitcoin could be a type of digital gold since the cryptocurrency has been trading like a speculative risk asset for much of the past two years. But about 50 years ago, gold did the same thing, Morgan Stanley said in a recent note. If bitcoin’s current moves continue to follow those of gold in the 1970s, the cryptocurrency could be in for some tough times ahead. In 1971, individuals could no longer convert U.S. dollars to a specified amount of gold. Since 2008,…