Day: September 18, 2023

Kazakhstan launches CBDC development agency

The National Bank of Kazakhstan (NBK) launched a new local agency that will be in charge of the CBDC development in the country. According to an official press release, the new agency will be called the National Payment Corporation. The primary responsibility of the new agency will be to control the national payment system, including money transfers, digital identification, and interbank clearing services. The initiative for developing the local CBDC, the digital tenge, started at the beginning of 2023. The digital tenge is set to be released in 2025.  The…

Malta begins public consultation on revised crypto rules to align with MiCA

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Malta’s Financial Services Authority (MFSA) has begun public consultation over changes in its crypto regulations in order to align with Europe’s Markets in Crypto-Assets (MICA) regulations set to take effect in December 2024. The public consultation period is open until Sept. 29. The revised rulebook proposes changes to the rules for exchanges, custodians and portfolio managers in order to align with the European Union’s MiCA. Malta first established its crypto framework in 2018 with the Virtual Financial Assets (VFA). Some of the notable changes with respect to the VFA Rulebook are:…

Bitcoin miners seek alternative energy sources to cut costs

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During the 2021 bull market, many large mining companies took on massive loans to buy equipment and the proper infrastructure required to mine cryptocurrency. Yet the collapse of crypto exchange FTX and Celsius left many of these companies filing for bankruptcy.  The current bear market, coupled with high Bitcoin network hash rates and low profits, has yet again left the crypto industry wondering if miners will be able to recover from losses. While this remains questionable, it’s become evident that mining companies today are focusing more on alternative energy resources…

LINK Notches 6% In One Day As Market Rebounds, What’s Next?

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Oracle service provider Chainlink native token LINK has surged today as the crypto market records a significant uptick. The cryptocurrency is up by 9.02%, trading at $6.80 with a trading volume of $198 million, representing an over 179% increase in the last 24 hours. One of the factors likely to affect LINK’s price growth in the coming days is the massive movement of tokens from the network’s wallet to exchanges. On September 16, four wallets associated with Chainlink transferred 18.75 million LINK tokens across various platforms, amounting to $119 million.  These…

Friend.tech Drives Up Coinbase’s Base Blockchain Activity

Coinbase’s layer 2 blockchain, Base, which launched in early August, has seen its daily transactions hit an all-time high, according to data from IntoTheBlock. Base saw 1.88 million transactions on Thursday, higher than layer 2 rivals Arbitrum and Optimism combined, which saw 780,000 and 370,000, respectively. “Interestingly, it is not decentralized finance (DeFi) applications nor non-fungible token (NFT) marketplaces driving the surge in Base’s activity. Instead, a significant portion of usage can be attributed to a new social application, FriendTech,” said Lucas Outumuro, head of research at IntoTheBlock. Decentralized social…

Apple Inc’s Vision Pro Forecasted to Lead 2024 Product Lineup

Beyond hardware and the focus on Vision Pro, Apple is making significant strides in the world of Artificial Intelligence. The year 2024 is already shaping up to be an exciting one for enthusiasts of Apple Inc (NASDAQ: AAPL), with the tech giant said to be working on a host of major product launches beyond Vision Pro. At the forefront of Apple’s 2024 lineup is the highly anticipated Apple Vision Pro. As Bloomberg’s Mark Gurman suggests in a recent report, this release is not only about the product itself but also…

Ethereum Holesky Testnet Already Seeing Issues, What’s Wrong This Time?

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In a rare lapse in technological expertise, the recently unveiled Ethereum testnet, Holesky, failed to launch after developers discovered flaws in the testnet’s design.  Ethereum Holesky Testnet Riddled With Misconfigurations The crypto community and Ethereum enthusiasts are presently waiting for the return of Ethereum’s Holesky testnet which was scheduled to launch on Friday, September 15.  The Holesky testnet which was created to replace Ethereum’s Goerli testnet after its deprecation in 2024 encountered an unexpected technical hiccup on the day of its release. The release date marked a significant date in…

Hong Kong Influencer Arrested Over JPEX Links, Exchange Shuts Down

JPEX attributed its liquidity difficulties to regulatory constraints and external market makers, leading to increased withdrawal fees and the suspension of specific services. According to various local media reports, Joseph Lam (Lin Zuo), a former lawyer and cryptocurrency influencer, has been arrested by Hong Kong authorities in connection with the JPEX crypto exchange. Crypto Influencer and His Ties with JPEX The arrest took place today, with law enforcement officers also conducting a raid on Lam’s office in the city around 11 a.m. local time. During the operation, the officers reportedly…

Turkish President Invites Elon Musk to Build Tesla Factory in Turkey

In response to Erdogan’s proposition, Musk conveyed his enthusiasm for the Turkish market. Turkish President Recep Tayyip Erdogan has extended an invitation to Elon Musk, the CEO of Tesla and SpaceX, urging him to consider establishing Tesla’s next factory in Turkey. The enticing offer was made during their meeting in New York, where Erdogan attended the United Nations General Assembly. The meeting between Erdogan and Musk took place at the iconic Turkish House in Manhattan, and it revolved around the prospects of Tesla‘s expansion into Turkey. Erdogan Courts Musk for…