Swift will begin live trials for digital asset and currency transactions in 2025, engaging banks across North America, Europe, and Asia in a major step toward real-world applications. By leveraging its existing network, Swift aims to merge digital and traditional assets, addressing the challenges of disconnected platforms. The trials build on successful blockchain experiments, seeking…
Read more
JPMorgan CEO Jamie Dimon has issued a serious warning about escalating geopolitical risks, stating that they pose greater threats to global stability than current economic challenges. His remarks come in light of rising tensions, including attacks on oil tankers and the ongoing Ukraine-Russia war. Dimon cautioned against over-optimism about the U.S. economy, advising a more…
Read more
Russian President Vladimir Putin revealed that 34 countries have shown interest in joining BRICS activities, highlighting the global appeal of the group. He detailed Russia’s role in facilitating the integration of new members, sharing updates on BRICS activities under Russia’s chairmanship. 34 Countries Show Interest in BRICS, Putin Says Russian President Vladimir Putin said on…
Read more
China’s digital yuan initiative has advanced considerably, backed by over a decade of research and four years of pilot experimentation, according to Lu Lei, Deputy Governor of the People’s Bank of China (PBOC). Trials for the Chinese central bank digital currency (CBDC) have been conducted in 17 different areas, accumulating a total transaction value of…
Read more
On Tuesday, September 5, 2023, Bitcoin’s mining difficulty experienced a 2.65% dip at block height 806,400, offering a slight reprieve for miners. This marks the first decline since July 26, when a 2.94% slide was recorded at block height 802,368. Bitcoin Miners See Relief With 2.65% Difficulty Drop and Rising Hash Price As of Tuesday…
Read more
In recent communications to its U.K. clientele, Paypal has announced a temporary suspension of cryptocurrency purchases starting October 1, 2023, with plans to resume in early 2024. Notably, even amidst this hiatus, users can continue to hold their crypto within the Paypal ecosystem and are free to liquidate their digital holdings whenever they wish. Paypal…
Read more
In a recent report, the Bitcoin Mining Council (BMC) unveiled the results of its first half of 2023 survey, highlighting the industry’s strides in electricity consumption, technological efficiency, and sustainable power. Furthermore, the survey details that the BMC accounts for 43.4% of the global mining network. Insights From the Bitcoin Mining Council’s Latest Survey The…
Read more
The Financial Stability Board (FSB) has called for improved global digital asset regulation with the safety of user assets at the center of policies. The international financial body which acts as a standard-setter rolled out plans to proffer recommendations to help curb the crypto-related turmoils that hit the market last year. According to the body,…
Read more
Meanwhile, a life insurance company that uses bitcoin, has accumulated $19 million through two seed funding rounds. The first round was led by Openai CEO Sam Altman and former Stripe executive Lachy Groom, while Google’s Gradient Ventures took charge of the second round. Crypto Startup Meanwhile Gains $19 Million for Bitcoin Life Insurance Endeavor The…
Read more
Investors, plagued by mounting pessimism, have sought refuge in cash, according to a recent survey conducted by Bank of America. The survey highlights a notable 5.6% increase in cash reserves during May, as apprehensive investors brace themselves for a potential credit crunch and a recession. Flight to Safety: Investors Increase Cash Reserves and Brace for…
Read more
