The Central Bank of Russia and the Russian treasury are considering testing using the Russian CBDC, the digital ruble, to complete budget settlements. The tests would involve using this CBDC to make payments to businesses and citizens and receiving payments from these in CBDC, to ensure the targeted use of these funds. Russian Digital Ruble […] Source CryptoX Portal
Grayscale’s chief legal officer (CLO), Craig Salm, expects the SEC to approve spot Ether (ETH) exchange-traded funds (ETFs) by May 2024. According to Salm, the optimism stems from the SEC’s meetings with Grayscale prior to the approval of Bitcoin ETFs. The meetings covered critical operational aspects such as creation/redemption procedures, cash versus in-kind contributions, authorized participants (APs), liquidity providers (LPs), and custody issues. Based on these interactions, Salm asserts that the case for Ethereum ETFs is quite similar to that of Bitcoin ETFs. His argument mainly centered on the fact…
PRESS RELEASE. Alchemy Pay has announced that it has entered into a partnership with Polyhedra Network, a Web3 ZK infrastructure provider that aims to revolutionize interoperability and scalability through Zero-knowledge (ZK) proof technology. Through this collaboration, Alchemy Pay will integrate Polyhedra Network’s ZK infrastructure to improve the interoperability, security, and user experience of its global […] Source CryptoX Portal
Metaverse tokens have a $18 billion market cap, but we’re not quite at Ready Player One yet. Source
“We are proud that HSBC Gold Token, powered by HSBC Orion, is the first retail product in Hong Kong that is based on distributed ledger technology, as authorized by the Securities and Futures Commission,” said HSBC Hong Kong head of wealth and personal banking Maggie Ng in a statement. Source
On March 26, 2024, the Web3 modular infrastructure startup 0G secured $35 million in funding from over 40 strategic backers. Representing “zero gravity,” 0G is dedicated to enhancing infrastructure scalability through modular design. Its primary focus is on addressing the essential challenges necessary for the deployment of onchain artificial intelligence (AI) solutions within the Web3 […] Source CryptoX Portal
BNB price is attempting a fresh increase from the $500 zone. The price could gain bullish momentum if it clears the $588 and $610 resistance levels. BNB price started a fresh increase above the $520 and $540 levels. The price is now trading above $575 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support near $580 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair could attempt a fresh rally if it clears the $610 resistance…
The broader crypto community is calling for a controversial chain rollback in a bid to recover funds. Source
Bitcoin is experiencing a significant liquidity crisis as demand for it soars, with Cryptoquant analysts reporting a monthly demand increase from 40,000 BTC to 213,000 BTC, fueled by a rise in accumulation addresses and institutional investments through spot bitcoin ETFs in the US. The imbalance between the surging demand and the decreasing sell-side liquidity, with […] Original
Veteran trader and renowned chartist Peter Brandt says bitcoin is “vying to become the Level 1 ‘store-of-value’ standard replacing fiat currencies and government bonds.” He explained that fiat currencies, like the U.S. dollar, “will still be used to buy groceries and pay for gas.” Moreover, he expects governments to “constantly be issuing new currency replacements.” […] Original