Tag: News

Shanghai Metaverse Pilot Introduces Digital Services in 20 Urban Locations – Metaverse Bitcoin News

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The city of Shanghai is bringing metaverse activities to 20 urban locations, that will allow citizens to use digital tools in different ways according to the area. The initiative is part of a pilot program of the Shanghai Municipal Commission of Economy and Informatization to push more metaverse applications to the population. Shanghai Takes the Metaverse to 20 Urban Spots Shanghai, China is quickly moving to integrate the metaverse as part of the lives of its citizens. The Shanghai Municipal Commission of Economy and Informatization recently announced a pilot program…

Iran and Russia Consider Issuing Gold-Backed Stablecoin, Officials Unveil – Finance Bitcoin News

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Tehran and Moscow are discussing the possible launch of a stablecoin for international settlements, the Russian press revealed. In order to mint the gold-backed currency, however, authorities would need to first regulate crypto assets, a lawmaker noted. Russian, Iranian Representatives Talk Using Gold-Backed Stablecoin in Foreign Trade Iran’s central bank is considering the possibility of creating, with Russia’s participation, a digital token to facilitate trade in the Persian region, according to a report quoting the head of the crypto industry organization in the Russian Federation. The coin could be accepted…

Hashkey Capital Raises $500 Million for Its Third Fund, Despite Crypto Market Downturn – Bitcoin News

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On Tuesday, global asset manager Hashkey, which focuses on crypto and blockchain investments, announced that it has closed its third fund at $500 million. The company’s “HashKey Fintech Investment III” is dedicated to developing crypto solutions, blockchain technology, and Web3 concepts. Hashkey Capital’s Fund III to Focus on Web3, Emerging Markets and Crypto Solutions Amid the crypto market downturn, global asset manager Hashkey Capital announced the closing of a new fund, “Hashkey Fintech Investment III,” after raising $500 million. According to Hashkey, the fund “received strong support from institutional investors…

BIS Economists Recommend 3 Crypto Policies for Regulators Worldwide to Adopt – Regulation Bitcoin News

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Economists at the Bank of International Settlements (BIS) have recommended three policies regulators worldwide could adopt in order to deal with the risks posed by cryptocurrencies. “Authorities can now consider a variety of policy approaches and at the same time work to improve the existing monetary system in the public interest,” they advised. BIS Economists Discuss Crypto Policies The Bank of International Settlements (BIS) published a bulletin last week titled “Addressing the risks in crypto: laying out the options.” Authored by BIS economists Matteo Aquilina, Jon Frost, and Andreas Schrimpf,…

Regulatory Onslaught Is Just Beginning – Regulation Bitcoin News

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The Securities and Exchange Commission (SEC)’s former head of internet enforcement has warned the crypto industry that a “regulatory onslaught is just beginning.” His warning followed several recent enforcement actions the securities regulator took against major crypto firms. ‘SEC Regulatory Onslaught Is Just Beginning’ Former Securities and Exchange Commission (SEC) official John Reed Stark has warned the crypto industry of an escalating “regulatory onslaught.” Stark founded and served as chief of the SEC Office of Internet Enforcement for 11 years. He was also an SEC enforcement attorney for 15 years…

Rising Bitcoin Prices Cause Cascade of Short Liquidations, Highest Ratio of Short vs. Long Wipeouts Since July 2021 – Market Updates Bitcoin News

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The top two crypto assets have risen significantly in the past seven days, with bitcoin jumping 22.6% and ethereum increasing 18.6% against the U.S. dollar. According to market data, both crypto assets saw the largest increase on Saturday, Jan. 14, 2023. The sudden spike in value caused the highest ratio of short liquidations vs long liquidations since July 2021, according to a recent Alpha report from Bitfinex. Bitfinex Analysts See a Cautious Approach From Bulls as Market Remains Highly Illiquid Despite Price Surge Bitcoin (BTC) and ethereum (ETH) prices have…

Smart Contract Tokens, Defi Economy See Strong Growth, Market Capitalization Swells by $78 Million in 30 Days – Defi Bitcoin News

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Smart contract tokens and the decentralized finance economy have been on a tear during the last month, gaining against the U.S. dollar. The market capitalization of the smart contract platform token economy has swelled by $78 million over the last 30 days, increasing from $243 billion to the current $321 billion. Furthermore, the total value locked in decentralized finance (defi) has risen by $5.39 billion in the same time frame. Smart Contract Tokens Experience Double-Digit Gains, Led by Oneledger, Harmony, and Waves It’s been a rough crypto winter, to say…

71% of Total Value Locked Evaporates in 12 Months – Defi Bitcoin News

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Decentralized finance (defi) has continued to remain deeply ingrained in the cryptocurrency economy as the ecosystem provides users with a non-custodial way to exchange digital assets, lend cryptocurrencies, issue stablecoins, and ways to profit from arbitrage. In the lending sector of defi, a lot has changed during the last 12 months as lending applications like Terra’s Anchor Protocol bit the dust, and 71.95% of the total value locked in defi lending protocols evaporated. From $37 Billion to $10 Billion: The Top Five Defi Lenders Then and Now Last year around…

XMR, DOT Move Higher, Rebounding From Recent Declines – Market Updates Bitcoin News

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Monero rebounded from recent losses on Tuesday, as the token attempted to recapture recent highs. The move comes as U.S. markets reopened following a public holiday on Monday. Polkadot also moved higher in today’s session, snapping a two-day losing streak. Monero (XMR) Monero (XMR) rebounded on Tuesday, as the token moved back towards a recent seven-month high. Following a low of $165.77, XMR/USD raced to an intraday peak of $173.28 earlier in today’s session. Today’s move saw monero bounce from its support at $165.00, and climb towards a resistance of…

Decentraland’s MANA Token Outperforms Bitcoin With 88% Increase in One Week – Market Updates Bitcoin News

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The cryptocurrency economy is doing well during the third week of the new year, compared to the end of 2022. It is currently valued at $993.17 billion, as many digital assets have seen double-digit gains during the last two weeks. While some of the top ten cryptocurrencies, like bitcoin and ethereum, are performing well, a few digital currencies have outperformed a number of the top ten coins in terms of gains this year. Top Cryptocurrency Performers of the Week: Decentraland’s MANA, Frax Share, and FTT Lead the Way Digital currency…