About 2% of global money supply, via stablecoins and CBDCs, could be tokenized over the next five years, which is about $3 trillion, the report said. Source
Tokenization Could be a $5T Opportunity Led by Stablecoins and CBDCs: Bernstein
Month: June 2023
Binance UK office one of 2,403 companies sharing ‘utility closet’ in Suffolk
The United Kingdom-registered address for an entity of one of the world’s largest crypto exchanges, Binance, is nothing but a tiny building in Britain’s east that is shared by thousands of other companies. On June 19, a post on the r/buttcoin subreddit showed the so-called “utility closet” Binance Ltd and thousands of other firms use as a registered office address in the U.K. — a tactic often used by other tech firms and large companies. Binance Ltd’s address points to the small town of Mildenhall in Suffolk county, England. Google…
Alibaba's Crypto Friendly Joseph Tsai Set to Become Chairman
Joe Tsai, one of Alibaba’s founders, has been an active Web3 investor and once tweeted “I like Crypto.” Source
First Ever Canadian Bitcoin Conference Wraps up in Toronto
The event attracted over 300 attendees and a diverse array of exhibitors, according to conference organizers, signaling continued interest in the cryptocurrency despite past criticism of Bitcoin by Canada’s Prime Minister and tighter exchange regulation. Original
Millions in USDT paid for unlocking stolen iPhones as Apple refuses to act
The cryptocurrency tether (USDT) is used for hundreds of millions of dollars worth of transactions for illicit lost and stolen iPhone unlocking services. Apple appears to have taken little action despite being alerted to the ongoing security breach in their iCloud and Find My iPhone features. These claims were highlighted in a recent video by technology YouTuber and repair technician Luis Rossmann. A glitch in Apple Connect Apple’s renowned security measures are under scrutiny following reports of numerous iCloud unlocking services advertised on various platforms. These services claim to bypass…
31% of young Aussies hold crypto despite being ‘risk averse’ — ASX survey
Despite seeing themselves as more “risk averse” than their older counterparts, nearly a third of all young Australian investors hold or have traded cryptocurrencies over the last year, a new study has found. In an Australian investor study from the Australian Securities Exchange (ASX), 46% of “next generation investors” — the report’s terminology for investors aged 18 to 24 — described themselves as preferring “stable returns” — yet 31% of them invested substantially in crypto. Attitude towards investment risk by age group. Source: ASX. “The apparent financial conservatism of younger…
Binance’s BNB Chain introduces layer-2 testnet powered by Optimism
Binance-founded layer-1 blockchain BNB Chain has introduced a new layer-2 chain it hopes to address its “scalability challenge.” On June 19, BNB Chain unveiled opBNB which launched as a testnet on June 19. The new layer-2 scaling solution is based on the Optimism OP Stack which it says will add additional security and scalability to the Binance blockchain network. The system is an Ethereum Virtual Machine (EVM) compatible layer-2 chain, which means it works with Ethereum-based smart contracts, networks, and ERC-20 token standards. Blockchains are often plagued by network congestion…
Australia’s crypto laws risk being outpaced by emerging markets: Think tank
The Australian government needs to quicken its pace in developing crypto regulation or risk falling behind developing markets, according to the chair of a new crypto think tank. Loretta Joseph, chair of the Australian Digital Financial Standards Advisory Council (ADFSAC) — the newly launched policy institute under the ADC Forum — warned Cointelegraph that the country risks falling behind others when it comes to developing regulations. Earlier this year, Australia’s Treasury ran consultations for its “token mapping” exercise to help classify different crypto assets. A paper consulting on possible licensing…
Ethereum mulls increasing staking limit from 32 to 2,048 ETH for validators
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Ethereum Foundation researcher Michael Neuder has floated a proposal to increase the maximum effective balance of Ethereum validators from the current 32 to 2,048 ETH. The change is expected to reduce staking infrastructure complexity for large validators and improve user experience if implemented. Ethereum eyes staking limit increase The minimum and maximum effective balances of Ethereum validators have been capped at 32 ETH since the network’s successful transition to the proof-of-stake (PoS) consensus mechanism last year.…
Bangladesh takes formal steps to join BRICS coalition
Bangladesh has made an official request to join the BRICS coalition, as reported by the Dhaka Tribune. This request was made after a meeting between prime minister Sheikh Hasina and the South African president Cyril Ramaphosa in Geneva last week. A formal application BRICS, an association comprising the most-developed emerging national economies, Brazil, Russia, India, China, and South Africa, which together boast a combined population of 3.1 billion people, representing around 40% of the world’s population. With a collective nominal GDP of $40 trillion, these countries contribute more than 20%…