Russian companies may start transacting in cryptocurrency with partners abroad as early as next year and will be free to pick the coin they want to use, officials in Moscow have indicated. The sanctioned country is preparing to legalize foreign trade settlements with digital assets and this could happen in the coming months. Russian Government…
Read more
A look at how DeFi protocols have fared during the recent bear market and the importance of continuing to build during market downturns. Decentralized finance (DeFi) has been one of the fastest-growing sectors in the crypto space since its emergence in 2018. However, like many other sectors, DeFi has seen a negative impact in the…
Read more
BTC, ETH, altcoins and stock prices crumbled in the face of a hotter than expected CPI report. Is there room for a short-term recovery? Crypto and stock markets are feeling the pain after the Sept. 13 inflation report printed an unexpectedly hot figure that showed headline inflation rising by 0.1% month-over-month. Even with gas prices…
Read more
The firm said it will use the money from the raise to further enhance its intellectual property. On Tuesday, nonfungible tokens (NFTs) collection Doodles announced that it had raised $54 million at a $704 million valuation in a funding round led by Seven Seven Six, with participation from 10T Holdings, Acrew Capital and FTX Ventures.…
Read more
Residents would not be violating sanctions by visiting Tornado Cash’s website, copying the mixer’s open-source code, nor making the code available online or in print. The United States Department of the Treasury said “interacting” with cryptocurrency mixer Tornado Cash’s open-source code, with certain provisions, would not be in violation of sanctions imposed by the Office…
Read more
BitGo has accused Galaxy of “improper repudiation” and “intentional breach” of the merger in a lawsuit filed with Delaware Chancery Court. Digital asset custodian BitGo has filed a lawsuit against Mike Novogratz’s cryptocurrency investment firm Galaxy Digital for terminating the former’s acquisition. BitGo took to Twitter on Tuesday to disclose details of its lawsuit against…
Read more
Abra announced its international venture and U.S. bank would work with officials to ensure regulatory and legal compliance and planned to launch in 2022 and 2023, respectively. Cryptocurrency trading platform Abra said it was “in the process of” establishing a United States-based state-chartered bank allowing clients to deposit digital assets. In a Monday announcement, Abra…
Read more
“Filecoin is more than just storage, one can think of it as an Airbnb for cloud services.” At the beginning of 2021, Filecoin was a relatively unknown decentralized peer-to-peer storage service with a total network capacity barely making a dent in the digital storage space. Less than 2 years later, the Filecoin team claims the blockchain…
Read more
Buterin responded to criticism by claiming PoW-based mining rewards are not much different from the PoS system, however, Wertheimer was quick to point out the differences. Independent developer and Bitcoin proponent Udi Wertheimer created quite a buzz on Crypto Twitter earlier on Monday after he claimed that a proof-of-stake (PoS) based yield reward system for…
Read more
The People’s Bank of China has urged for widening of the array of use-case scenarios for its central bank digital currency. The monetary authority believes that deeper interconnection with traditional e-payment platforms will make the digital yuan more convenient for consumers.
China’s Central Bank Insists on Expanding Digital Yuan Environment
The monetary policy regulator…
Read more
