Tag: Digital

Digital Gold Traded for Digital Rubles by Russia’s Rosbank – Finance Bitcoin News

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Rosbank has brokered Russia’s first deal involving the exchange of tokenized gold with the digital version of the Russian national fiat currency, the ruble. The successful transaction demonstrates the growing interest in digital financial assets and the need for digital ruble payments, the banking institution stated. Rosbank and Atomyze Exchange Gold and Rubles in Digital Form Moscow-headquartered Rosbank has facilitated the purchase of digital gold with central bank digital currency (CBDC). The operation was carried out on the blockchain platform created by Atomyze, one of several issuers of digital financial…

Argo CEO follows resignation trend after company acquisition by Galaxy Digital

The cryptocurrency miner Argo continues to undergo a series of company changes in light of its major acquisition and newly filed lawsuit.  Peter Wall, the CEO of Argo Blockchain, announced his resignation from his executive position on Feb. 9.  According to the announcement, Wall will remain an adviser to Argo throughout the next three months to support the transition out of the position. He also commented that he was “pleased” to have spearheaded the recent Galaxy Digital acquisition deal. In the same announcement, the company also revealed the resignation of Argo…

US banking giant BNY Mellon says digital assets are ‘here to stay’

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Michael Demissie, the head of digital assets at Bank of New York Mellon (BNY Mellon) is adamant that the cryptocurrency market fall in 2022 won’t waver institutional interest in digital assets.  At a conference run by Afore Consulting on Feb. 8, Demissie said the digital asset industry is “here to stay” as institutional investors have held a strong interest in crypto. “What we see is clients are absolutely interested in digital assets, broadly,” he said, according to a Feb. 8 report from Reuters. Demissie backed up his thoughts by referencing…

India in ‘no hurry’ for CBDC as digital rupee pilot onboards 50k users

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The Indian government doesn’t want to rush its central bank digital currency (CBDC) pilot despite joining the CBDC race just a few months ago. India’s recently launched CBDC pilot has amassed 50,000 users, and 5,000 merchants since the Reserve Bank of India (RBI) launched the digital rupee pilot last year, local news agency The Economic Times reported on Feb. 8. India’s e-RUPI app stopped registering new users. Source: Cointelegraph Announcing the first public milestones of India’s digital currency at a policy press conference, RBI deputy governor Rabi Sankar stressed that…

Bank of England thinks digital pound can co-exist with private stablecoins

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The United Kingdom is a step closer to launching a Central Bank Digital Currency (CBDC) after releasing a consultation paper explaining the proposed digital pound, which the public has nicknamed “Britcoin.” The 116-page consultation paper was jointly released on Feb. 7 by the Bank of England (BoE) and His Majesty’s Treasury. A technology working paper was also released delving into the technical and economic design considerations. Despite the rise of privately-issued stablecoins in recent years, the paper said CBDCs such as the digital pound can co-exist in what they expect…

Unpacking India’s CBDC Pilots as Country Prepares for Digital Rupee

India launched two CBDC pilots last year. The first, a wholesale CBDC effort (CBDC-W), began on Nov. 1 with the participation of nine banks. The other, a retail CBDC (CBDC-R) pilot, launched on Dec. 1 in four cities – Mumbai, New Delhi, Bengaluru and Bhubaneswar. Initially, four banks, including the State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank participated. Source CBDCCountryDigitalIndiasPilotsPreparesRupeeUnpacking CryptoX Portal

Designer Sean Wotherspoon Launches First Digital Wearables Collection on MNTGE

Day One holders can mint digital trunks that contain two unique NFTs: one digital 3D version of a garment and a second 3D “ink bottle.” There are four digital vintage wearable designs in total and three ink bottles designed by Wotherspoon, which will allow holders to customize their wearables. There are also rarity tiers embedded into the project and a future possibility to choose whether to keep the NFTs as is or combining them to create a new, rarer NFT. Source

Law Firm Subpoenas FTX Co-Founder, Top Executives, and Former Alameda CEO Over Voyager Digital Deal – Bitcoin News

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On Feb. 6, 2023, law firm Kirkland & Ellis issued a subpoena to FTX co-founder Sam Bankman-Fried and top executives on behalf of Voyager Digital. The subpoena requested they produce documents and communications related to the “Alameda Loan Agreement” between Alameda Ventures and Voyager, as well as other important documents. Additionally, Voyager Digital has subpoenaed former Alameda Research CEO Caroline Ellison, FTX co-founder Gary Wang, and former FTX head of product and investor relations Ramnik Arora. Law Firm Kirkland & Ellis Requests Documentation for Proposed FTX-Voyager Deal Kirkland & Ellis,…

Digital Pound Nothing Like Crypto, Bank of England Official Says as Press Dubs It ‘Britcoin’

A majority of cryptocurrencies are “highly speculative” and have “no intrinsic value,” Cunliffe said, adding that although it is possible some technologies underlying crypto could help develop a digital version of the pound, the bank is considering a range of options. While the central bank has made no decision on using distributed ledger technology (DLT) which is currently used for cryptos, Cunliffe said experimentation with decentralized record-keeping is “important to ensure it is appropriately considered.” Source

Bitcoin Miner Stronghold Digital Restructures Remaining $55M of Debt

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Stronghold also signed a two-year deal with miner hosting company Foundry for 4,500 miners, totaling approximately 420 petahash/second in computing power with an average efficiency of 35 joules/terahash. The hosting fee will be the realized net cost of power at Stronghold’s Panther Creek Plant plus 10%. Foundry and CoinDesk share the same parent company, Digital Currency Group. Original