Tag: Digital

China’s Central Bank Adds More Digital Yuan Pilot Cities – Altcoins Bitcoin News

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China’s central bank, the People’s Bank of China, has added more cities to test its digital currency. According to the latest official data, the digital yuan has more than 261 million users. PBOC Adds More Cities to Test Its CBDC The Chinese central bank, the People’s Bank of China (PBOC), said Saturday that it is adding more pilot cities to test its central bank digital currency (CBDC), the digital yuan (e-CNY). The new pilot cities are Tianjin, Chongqing, Guangzhou, Fuzhou, Xiamen, and six cities in the Zhejiang province that will…

Gryphon Digital Mining Ends Plans to Go Public Through Merger With Sphere 3D

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US Senator Cruz Introduces Bill to Prevent Federal Reserve From Using Digital Currency as Surveillance Tool – Regulation Bitcoin News

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U.S. Senator Ted Cruz has introduced legislation to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals and competing with the private sector. The senator from Texas warned that not only would this CBDC model centralize financial information, leaving it vulnerable to attack, but it could also be used “as a direct surveillance tool into the private transactions of Americans.” Senator Cruz Introduces Bill to Prevent the Fed From Issuing Digital Dollar to Retail Consumers U.S. Senator Ted Cruz (R-TX) introduced legislation Wednesday “to…

How A Game-Changing Decentralized Synthetic Exchange Aims to Unlock the True Value of Commodities and Digital Assets On-Chain

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The barter system, where you trade your cow for someone else’s grains, for instance, is probably older than you think. It has its roots dating back to 6000 BC when Mesopotamian tribes first made exchanges with other groups. Those methods of exchange worked well before things like the Internet or decentralized technology existed. Trading was necessary not because commodities have financial value or even industrial utility, but because they were necessary for survival. Back then, societies weren’t as worried about gold or silver as they were about grains, milk, and…

Galaxy Digital delays BitGo acquisition to later on in 2022

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Cryptocurrency investment firm Galaxy Digital has not managed to finalize the acquisition of the digital asset custodian BitGo in the first quarter of 2022 as the firm originally planned. Galaxy Digital has made some changes to the terms of its acquisition of BitGo, CEO Mike Novogratz announced in an earnings call on Thursday. “We’ve adjusted the deal some, for progress that BitGo has made,” Novogratz said, noting that BitGo has hired about 150 people since the firms originally signed the deal in May last year. He added that Galaxy remains…

Yield App Passes ‘Proof of Reserves’ Audit to Bolster Safety and Accountability of Deployed Digital Assets – Sponsored Bitcoin News

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sponsored PRESS RELEASE. Yield App, one of the rising and most trusted digital wealth platforms, recently underwent a thorough ‘proof of reserves’ audit. The inspection was conducted by Armanino LLC, the firm responsible for auditing Kraken – one of the largest and most trusted cryptocurrency exchanges in the world. Yield App passed the audit with flying colors, bolstering its stance on safety and accountability of the assets deployed by customers into portfolios available on its platform. What is ‘proof of reserves’? A proof of reserves is an independent audit of…