An anonymous source has told reporters that the first Diem pilot will focus on transactions between individual consumers. Facebook-backed digital currency project Diem could yet launch its first stablecoin in 2021 as a small-scale pilot, according to an anonymous source. Cited in a CNBC report published on April 20, the source claimed that the Switzerland-based…
Read more
China wants to allow foreign athletes and visitors to use the county’s digital currency during the Beijing Winter Olympics in 2022. China’s central bank is looking to enable foreign athletes and visitors to use the country’s digital currency during the Beijing Winter Olympics in 2022, according to a top central bank official. Li Bo, deputy…
Read more
IADB disbursed tokenized funds to a recipient in the Dominican Republic using the LACChain blockchain network. Banking giant Citigroup has successfully completed a proof-of-concept for blockchain-based cross-border payments in collaboration with the Inter-American Development Bank, or IADB. According to a Thursday announcement, Citigroup’s Citi Innovation Labs and the IADB enabled several disbursements from the United…
Read more
U.S. dollar weakness is painting a bullish short term outlook for Bitcoin in April. The U.S. dollar is starting to weaken once again as sellers are pushing the U.S. Dollar Index (DXY) downward, which could strengthen the momentum of Bitcoin (BTC) in the near term. Alternative assets like Bitcoin and gold are priced against the…
Read more
Tether’s reserves for its USDT stablecoin exceed the amount required to redeem the digital asset tokens, according to auditing firm Moore Cayman. Tether Holdings Limited, a company behind the world’s largest stablecoin Tether (USDT), has released an assurance opinion to confirm that Tether tokens are fully backed by its reserves. In a statement shared on…
Read more
Former OCC acting comptroller Brian Brooks claimed that cryptocurrencies like Bitcoin “actually are backed by something.” Brian Brooks, former acting comptroller of the currency of the United States Office of the Comptroller of the Currency, has claimed that cryptocurrencies like Bitcoin (BTC) have some backing, while the U.S. dollar may not have any. Brooks gave…
Read more
An important new role for the world’s first cryptocurrency as an inflation gauge — or just another fantasy of Bitcoin maximalists? Throughout the middle of March, many Americans received stimulus checks from the government, and while the payments — $1,400 for every U.S. citizen earning less than $80,000 annually — will be a blessing for…
Read more
The classic inverse correlation between USD and Bitcoin is nowhere to be seen as all-time highs come closer and closer. Bitcoin (BTC) challenged levels within 10% of all-time highs on March 10 as strength in the U.S. dollar failed to dent the bullish trend. BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview $56,000 resistance is next…
Read more
The price of Bitcoin remains stuck in a downtrend after failing to close above $50,000. The price of Bitcoin (BTC) has failed to break above the psychological $50,000 resistance going into the weekend and has dropped below the $48,000 level on March 6. BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview Now traders are watching whether…
Read more
Will the new Biden–Harris administration be able to enforce a technology strategy focused on blockchain, cryptocurrency and digital assets? As the COVID-19 pandemic unfolds, the Biden–Harris administration has begun implementing new strategies to restore the U.S. economy. While notable, implementing emerging technologies, while ensuring data privacy, should also be a top priority for the White House administration…
Read more
