Month: April 2023

New Stablecoins Draft Bill Introduced in US House of Representatives

The United States Congress is set to discuss a new bill geared towards providing requirements for payment stablecoin issuers, and research on a digital dollar. The United States Congress is preparing to issue more clarity on digital assets in the stablecoins market. The ballooning stablecoins industry experienced one of the worst crypto calamities during the Terra Luna UST collapse after more than $40 billion was wiped out of the industry. As a result, the United States federal government has issued several guidelines against algorithmic stablecoins similar to the Cardano-based DJED.…

While Musk Says AI Could Destroy Civilization, Reports Show that Billionaire Plans to Launch AI Firm 

Elon Musk is reportedly working on launching an AI startup to compete with OpenAI. Many prominent names, including Elon Musk, have weighed in on the matter of AI technology that recently exploded and is aggressively dominating. Opinions are in two directions: while many see AI as a game-changer for many industries, others like Musk are concerned about its associated risks and disadvantages. During a FOX interview, the Tesla chief compared AI’s potential danger to more than the risks of a mismanaged aircraft design or production maintenance. Noting the low probability,…

CoinDesk Indices Joins With Luno to Help South African Users Track Crypto Investment Bundles

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…

Aave’s proposal to launch on zkEVM passes ‘temperature check’ vote

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A “temperature check” proposal to deploy the decentralized exchange (DEX) Aave on the zkSync Era Mainnet has passed with overwhelming support from the Aave community.  When voting closed on April 16 more than 99% of Aave (AAVE) token holders voted in favor of launching the third version of the lending and borrowing protocol on the zero-knowledge Ethereum Virtual Machine (zkEVM). According to the proposal first pitched on March 26, the launch will be limited to USD Coin (USDC) and Ether (ETH). A [Temp Check] is currently running to deploy Aave…

Ether hits 11-month high as post-Shapella withdrawals pass 1M ETH

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Over 1 million Ether (ETH) worth $2.1 billion has now been withdrawn from Ethereum’s Beacon Chain within the first four days of the Shapella hard fork and Ether has pushed over $2,100 for the first time in 11 months. The 1.03 million ETH withdrawals have come from 473,7000 withdrawal requests, with Saturday, April 15 being the largest withdrawal day at 392,800 ETH according to data from beaconcha.in. Of the active validators, nearly 87% or 469,000 of the 540,000 are now able to withdraw their staked Ether. April 15 to 16…

Latam Insights – Inflation Skyrockets in Argentina, El Salvador Processes Digital Assets Licenses, Venezuelan Crypto Corruption Probe Continues – News Bitcoin News

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Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue: Inflation in Argentina goes over 100%, El Salvador issues its first digital assets licenses, and the crypto-linked corruption probe in Venezuela is still ongoing. Argentina Registers 104.3% Inflation In March, the Highest in Latam The National Institute of Statistics and Census in Argentina released inflation numbers for March 2023, registering a 7.7% increase month-over-month. This number is higher than the 6.6% registered during February, produced…

Blockchains need an interoperable standard to evolve, say crypto execs

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Blockchain technology needs a benchmark communications standard that can be easily integrated by every network in order for a complete transition from Web2 to Web3 to occur, industry commentators say. Many expect there will be multiple blockchains and such an ecosystem requires communication protocols similar to the Transmission Control Protocol/Internet Protocol (TCP/IP) used on the internet. Ryan Lovell, director of capital markets at crypto price oracle solutions firm Chainlink Labs told Cointelegraph that blockchains without interoperability are like what computers are without the internet — isolated machines which cannot transfer…

Blockchain Association files further FOIA requests over banking closures

More Freedom of Information Act (FOIA) requests seeking information on recently closed crypto-friendly banks have been submitted by cryptocurrency advocacy group the Blockchain Association (BA) to two regulators. On April 14, the Association said that in addition to the FOIA requests, it has also filed Freedom of Information Law (FOIL) requests to the Federal Housing Finance Agency (FHFA) and the New York Department of Financial Services (NYDFS). The organization is seeking further information on the de-banking of crypto companies following the seizure of Signature Bank and the failure of Silvergate…

Rep. Davidson to introduce legislation to fire SEC boss Gensler for crypto overreach

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Securities and Exchange Commission (SEC) chair Gary Gensler could be facing unemployment after United States Representative Warren Davidson declared he would introduce legislation to fire the SEC boss. In an April 15 tweet responding to Coinbase’s legal chief, Paul Grewal, the crypto-friendly Representative announced his intention to have Gensler removed from his role after the SEC’s latest announcement about revisiting the proposed redefinition of an “exchange.” “To correct a long series of abuses, I am introducing legislation that removes the Chairman of the Securities and Exchange Commission and replaces the…