Day: May 11, 2023

BIS issues comprehensive paper on offline CBDC payments

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The Bank for International Settlements (BIS) is actively exploring opportunities for offline payments involving a central bank digital currency, or CBDC. On May 11, the BIS Innovation Hub Nordic Centre published a comprehensive handbook exploring how CBDCs could work for offline payments. The guide is written in collaboration with technical consultancy Consult Hyperion, addressing objectives for resilience, cash resemblance, accessibility and other offline CBDC features. Offline payments and ledger systems. Source: BIS Titled “Project Polaris,” the paper highlights new potential risks stemming from offline payments with CBDCs, including counterfeit or…

LTC Above $80.00, Moving Away From 6-Week Low  – Market Updates Bitcoin News

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Litecoin was back above $80.00 on Wednesday, as the token climbed away from a recent six-week low. Today’s rise in price sees the cryptocurrency surge for a third straight day, despite recent market volatility. Cardano was also marginally higher. Litecoin (LTC) Litecoin (LTC) jumped back above $80.00 earlier in today’s session, as the token continued to move away from recent lows. Following yesterday’s low of $78.18, LTC/USD raced to an intraday high of $81.97 on Thursday. The surge saw litecoin rise from a recent six-week low of $75.32, which took…

BTC price risks $27K loss as Bitcoin trend lines brew ‘bullish cross’

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Bitcoin (BTC) headed toward $27,000 after the May 11 Wall Street open as bulls failed to show strength. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price “rolls over” after brief recovery Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it risked a further loss of support. After a modest recovery from local lows seen the day prior, the pair remained weak, even as new United States macro data offered bullish cues. “Dump was retraced but then price quickly rolled over again,” popular trader Daan Crypto Trades summarized.…

How the IRS seized $10B worth of crypto using blockchain analytics

Blockchain analysis has been key in helping the United States Internal Revenue Service (IRS) seize an estimated $10 billion worth of cryptocurrency since it began investigating a broad body of crimes involving digital assets. This was a key point raised by IRS Criminal Investigations (IRS-CI) Chief Jim Lee in a wide-ranging, exclusive interview with Cointelegraph in Amsterdam. Lee was among a variety of delegates from public and private institutions sharing knowledge and insights at blockchain analytics firm Chainalysis’ Links conference held in the Netherlands. Lee, alongwith with a cohort from…

8 smart strategies for effectively explaining a blockchain scaling solution

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Blockchain technology can be difficult for the average layperson to understand, and when “layers” are added to the concept — as with blockchain scaling — it can be even more confusing. Companies working on blockchain scaling solutions are led and staffed by experts who fully understand the underlying technology and why scaling is essential to the long-term success of blockchain, but relaying that knowledge to those outside the industry can take thoughtfulness, patience and creativity. Learning what to emphasize and how best to relay that important information is essential for…

Do Kwon’s lawyers propose $436K bail as authorities prepare for June trial

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Authorities in Montenegro are moving forward with charges against Do Kwon and his former aide Han Chang-joon as lawyers for the Terra co-founder requested conditions for bail. According to a May 11 notice from Montenegro’s court system, lawyers representing Kwon and Chang-joon proposed they be confined to home arrest after providing 400,000 euros — roughly $436,000 at the time of publication — each in bail. The legal team said under such conditions, the two defendants could be restricted to a Montenegro apartment with the “obligation to periodically report to the…

Milady memecoin surges 5,250% after Musk tweet, exchange listings

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On May 11, Milady (LADYS), the self-organized memecoin of the namesake anime avatar nonfungible tokens (NFT) collection, surged by over 5,250% within 24 hours to trade at a $0.0000001528 at the time of publication. The day prior, American business magnate Elon Musk tweeted a meme using the imagery of a Milady NFT, sending the average Ether (ETH) sale price of the collection soaring.  According to token developers, LADYS has “no association” with Milady creator Charlotte Fang or Milady Maker. The token “is simply paying homage to an NFT collection we…