Month: May 2023

Samsung to research South Korea’s CBDC for offline payments

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Tech giant Samsung Electronics has reportedly partnered with the South Korean central bank to conduct research on central bank digital currency (CBDC) for offline payments. On May 15, South Korea’s central bank — Bank of Korea (BOK) — and Samsung signed a memorandum of understanding (MoU) for research on offline CBDCs, according to local media KBS World. The collaboration will have both parties researching the offline capabilities of CBDC issued by South Korea’s central bank. Samsung had also participated in the second phase of BOK’s 10-month CBDC simulation experiment research…

Bitcoin wallets holding at least 1 BTC reach 1m mark

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The number of bitcoin (BTC) wallet addresses holding a minimum of 1 BTC has reached the million mark, indicating that investors are bullish on the flagship crypto asset. Despite the recent crash in bitcoin and other cryptocurrencies’ prices, on-chain data released by Glassnode, a blockchain analytics platform, show that investor interest in the super volatile digital asset class remains solid. Last month crypto.news reported that Satoshi Nakamoto’s revolutionary invention had entered the accumulation phase, with the…

Bitcoin Cash (BCH) Jumps 6% Ahead of ‘CashTokens’ Fork

Other proposed improvements already locked in include smaller transaction sizes – which help speed up transactional times – and smart contracts functionality that could allow Bitcoin Cash-based applications built that offer recurring payments, derivatives trading, and crowdfunding opportunities, among other uses, to Bitcoin Cash users. Source

US Justice Department on the hunt for DeFi hackers and thieves: Report

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The United States Justice Department’s crypto enforcement team is cracking down on Decentralized Finance (DeFi) hackers and exploiters, amid a four-year rise in illicit crypto activity. In a Financial Times report published on May 15, Eun Young Choi, director of the U.S. Department of Justice (DOJ) national cryptocurrency enforcement team (NCET), stated that the department is focusing on thefts and hacks involving DeFi and “particularly chain bridges.” Choi said it was a “pretty significant issue” for the DOJ given North Korean “state-sponsored hackers” have emerged as “key actors in this space.” North…

Primordial NFT? Someone tried to sell a JPEG for BTC months before Bitcoin Pizza Day

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Crypto Twitter was briefly set ablaze on May 14 with a suggestion that the world’s first real-world purchase made by Bitcoin may have been for a JPEG, not pizza.  In a tweet from independent developer Udi Wertheimer, the Bitcoin advocate shared a screenshot showing what could have been the first-ever purchase using Bitcoin — even predating the infamous Bitcoin Pizza. This Twitter Space was FIRE We discovered that: the first purchase EVER with bitcoin was buying a JPEG for 500 BTC in Feb 2010 it pre-dates the the famous 10,000…

Bolivia Mulls Chinese Yuan for Trade Settlements, Steve Hanke Proposes 30-Day Solution for Venezuelan Inflation – 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, Bolivia mulls using the Chinese yuan in international trade settlements, inflation reaches 108.8% in Argentina, and Steve Hanke states he can eliminate Venezuela’s inflation in 30 days. Bolivia Mulls Using Chinese Yuan in International Trade Settlements The government of Bolivia has announced it is considering the usage of the Chinese yuan as a replacement for the US dollar for international trade settlements. The Bolivian President…

Zimbabwe sells millions of gold-backed crypto tokens despite IMF warning

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The Reserve Bank of Zimbabwe has sold 14 billion Zimbabwe Dollars’ worth of gold-backed digital tokens worth around $39 million despite a warning from the International Monetary Fund. On May 12, the central bank of Zimbabwe announced that it had received 135 applications valued at ZW$14.07 billion to buy the gold-backed cryptocurrency. The Zimbabwe dollar is officially trading at 362 ZWD to USD according to XE.com (but much higher on the street) making the stash worth around $38.9 million. The crypto tokens, first introduced in April, are backed by 139.57 kilograms…

OpenAI CEO in ‘advanced talks’ for $100M Worldcoin funding: Report

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OpenAI boss Sam Altman is reportedly in “advanced talks” of securing $100 million funding for Worldcoin, a project aimed at creating a collectively owned and globally distributed cryptocurrency. A Financial Times report published on May 15 cited sources with knowledge of Worldcoin’s funding talks, stating that the $100 million will be sourced from a mix of “existing and new investors.” When it was first revealed to the world, the startup boasted a Series A funding round led by a16z, with investors that also included Digital Currency Group, Coinbase Ventures as…

China, France to Deepen Ties Following Meeting of French President Macron and Chinese Leader Xi Jinping – Economics Bitcoin News

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Chinese and French foreign ministers have expressed readiness to strengthen cooperation and pursue a “close and enduring comprehensive strategic partnership,” according to China’s Ministry of Foreign Affairs. This followed a “successful” meeting between French President Emmanuel Macron and Chinese President Xi Jinping. China and France to Strengthen Relations State Councilor and Foreign Minister Qin Gang held talks with French Minister for Europe and Foreign Affairs Catherine Colonna in Paris last week, according to a statement by China’s Ministry of Foreign Affairs. According to the Chinese foreign ministry, both Qin and…

Jack Butcher Releases Checks Elements NFT Collection and Prints

“Elements are conceptually … the first instance of decentralized consensus,” Butcher told CoinDesk. “We’re trying to play into the themes that Checks is trying to express about consensus on the internet to pre-internet consensus, which is that all of these different cultures, languages, parts of the world, different schools of thought around how the world came to be … all landed on these four categories of matter – earth, water, air and fire.” Source