Tag: News

Top Diamond Producer De Beers Deploys Blockchain-Based Platform at Scale – Blockchain Bitcoin News

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De Beers, one of the leading diamond-producing companies globally, recently announced the deployment of its blockchain-based diamond source platform at scale. The platform will “enable the provision of provenance information from source to Sightholder to store on a secure blockchain.” Immutable Record of a Diamond’s Provenance One of the world’s top diamond miners, De Beers, recently said it had deployed a blockchain-based diamond source platform at scale. The platform, which is known as Tracr, gives the so-called sightholders the ability “to provide an immutable record of a diamond’s provenance, and…

UK Outlines Plans to Support Crypto Adoption, Create More Powers to Seize and Recover Digital Assets – Regulation Bitcoin News

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Delivering the Queen’s Speech, Prince Charles outlines the British government’s plans to support the safe adoption of cryptocurrencies and create “powers to more quickly and easily seize and recover crypto assets.” UK Government Plans to Support Crypto Adoption The U.K. government outlined its legislative agenda for the next parliamentary year in the Queen’s Speech delivered Tuesday by Prince Charles, the monarch’s son and first in line to the throne. The Queen’s Speech is written by the government and read out by the monarch as part of the official state opening…

US Lawmakers Push for Urgent Stablecoin Regulation — Fed Warns of Stablecoin Runs, Janet Yellen Cites UST Fiasco – Regulation Bitcoin News

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As U.S. lawmakers push for the urgent regulation of stablecoins, the Financial Stability Oversight Council (FSOC) and the Federal Reserve Board warn about the risks of stablecoin runs that threaten the country’s financial stability. Treasury Secretary Janet Yellen brought up the terrausd (UST) fiasco as an example of why a comprehensive regulatory framework is urgently needed. Treasury Secretary Janet Yellen Testifies Before Senate Committee Stablecoins have become a hot topic in Washington. Following Monday’s terrausd (UST) fiasco, U.S. lawmakers are calling for the urgent regulation of stablecoins. On Tuesday, U.S.…

Nigerian CBDC Wallet Update to Enable Utility Payments, USSD Functionality to Be Added – Featured Bitcoin News

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The Nigerian central bank digital currency (CBDC) wallet app is set for an update that will see users given the ability to pay for utilities like pay television and for topping up airtime. The addition of the unstructured supplementary service data (USSD) functionality to the wallet app means people without bank accounts will be able to make payments using the CBDC. The Update Process The wallet app for Nigeria’s central bank digital currency, the e-naira, is set to undergo an update that will see users being able to pay for…

Crypto Downturn Shakes Digital Collectible Markets as NFT Sales Slip 42% Lower Than Last Week – Markets and Prices Bitcoin News

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Non-fungible token (NFT) markets are starting to feel the pain from the crypto market carnage that’s taken place during the last week. Over the last seven days, NFT sales have dropped 42.85% lower than the previous week. NFT sales on Ethereum were hit the hardest as the blockchain saw a 44.83% loss in NFT sales volume this past week. Crypto Economy’s Downward Spiral Begins to Plague NFT Sales NFT sales are down this week as seven-day sales metrics show across 16 different blockchains, NFT sales slipped 42.85% lower than last…

Erratic Bond Yields, Lockdowns, and War — 3 Reasons Why Economic Recovery Won’t Happen Quickly – Economics Bitcoin News

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The global economy looks bleak as inflation continues to rise, and a wide array of financial investments continue to shudder in value. Since May 2, 2022, the crypto economy has dropped more than 15% from $1.83 trillion to today’s $1.54 trillion. The price of gold has lost 5% in 30 days, and major stock market indexes have seen record lows during the past two weeks. While many people hope the world’s financial markets will see a turnaround, there are three major obstacles impeding the path to recovery. 3 Factors That…

LUNA Loses 50% of Its Value, While XMR and AXS Declines Continue – Market Updates Bitcoin News

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LUNA was down by over 50% in today’s session as markets continued to react to UST losing its parity with USD. As such traders lost faith in the stablecoin founded by Do Kwon, which dropped to its lowest point since September. Whilst LUNA stole the headlines, XMR and AXS also saw recent losses extended. Terra (LUNA) LUNA fell by over 50% during today’s trading session, as markets reacted to stablecoin UST losing its parity with the U.S. Dollar. After trading at a peak of $57.44 to start the week, LUNA/USD…

Bitcoin Cash to Include Bigger Integers and Native Introspection in Upcoming Upgrade – Bitcoin News

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Bitcoin Cash is preparing to include two significant improvements in its upcoming upgrade. Programmed to happen on May 15, the Bitcoin Cash Improvement Proposals (CHIPs) approved to be included are CHIP-2021-03, which brings bigger script integers to the chain, and CHIP-2021-02, which has to do with the activation of native introspection opcodes, directed to simplify the writing of smart contracts called covenants. Bitcoin Cash Prepares Contract Focused Upgrade A new upgrade is on the horizon in the new one-year Bitcoin Cash upgrade schedule, modified from its previous six-month cycle during…

BTC Falls Below $30,000, Is 55% Below Its Record High – Market Updates Bitcoin News

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Bitcoin plunged below $30,000 for the first time in eleven months, as bears continued to run rampant in crypto markets. This move came as Luna Foundation Guard was said to be liquidating close to $1.5 billion worth of BTC. Ethereum also fell to multi-month lows, as prices hovered slightly above $2,200. Bitcoin Bitcoin fell for a seventh consecutive session, as markets reacted to the news that the Luna Foundation Guard was to deploy $1.5 billion of BTC, as it hoped to regain its $1 UST peg. The latest decline in…

UST Rebounds From $0.66 per Coin to $0.93, Crypto Community Assesses Stablecoin’s Damaged Reputation – Bitcoin News

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On Monday, May 9, 2022, the stablecoin terrausd (UST) lost its parity with the U.S. dollar and dropped to an all-time low of $0.66 per unit. The stablecoin has been one of the most topical discussions in crypto during the past 24 hours, as many have been betting on whether it will fail or recover. However, by 9:15 a.m. (ET) on Tuesday morning, the stablecoin has managed to climb back to $0.934 per unit. UST Stablecoin Plunged to $0.66 per Unit, Rumors Spread Like Wildfire The Terra blockchain project has…