About 14% of Saudi residents are either current crypto investors or have traded crypto in the past six months, the latest Kucoin study has found. The study has also found that 76% of investors have less than one year of experience and thus may be in need of relevant crypto education. Crypto Winter Effect Around…
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The Central Bank of Russia has spoken out against stablecoins, which it says are highly risky and not fit for payments. The monetary authority reacted to a statement by a top finance ministry official who suggested that his department would support the development of Russian stablecoins. Russia’s Central Bank Voices Opposition to Stablecoins Unlike the…
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After reportedly returning all of its debt to DeFi lending protocols, troubled crypto lender Celsius (CEL) said it has initiated voluntary Chapter 11 proceedings in the US in an attempt to stabilize its business. CEL dropped following the announcement. At 03:03 UTC, CEL trades at USD 0.538 and is down 25% in a day, recovering from…
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After bitcoin price extended losses and traded below the USD 19,200 level yesterday, BTC remained supported near the USD 19,000 zone and managed to get back above USD 20,000. It is currently (04:17 UTC) trading near USD 20,200 and is up almost 4% in a day and still down less than 2% in a week.…
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Following the collapse of Terra and the subsequent crypto crash, stablecoin active addresses surged to a new all-time high. Meanwhile, bitcoin (BTC) and ethereum (ETH) active addresses have plunged drastically during this period. According to a recent report by crypto intelligence firm Coin Metrics, stablecoin active addresses hit a new all-time high in May 2022,…
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As the deadline for Damien Hirst’s The Currency NFT burn is approaching, more and more owners proceed to burn their NFT in exchange for corresponding original work on paper. However, NFTs still seem to be winning this art experiment. At the time of writing, a total of 2,111 NFTs have been burned, with the owners…
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The company says it’s planning to continue operations throughout the restructuring process, though withdrawals will continue to be paused at this time. Crypto lending platform Celsius confirmed on July 13 that it has initiated Chapter 11 bankruptcy proceedings in the Southern District Court of New York. The announcement was shared on the company’s Twitter and…
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A Web3 startup has also created a subscription model that uses nonfungible tokens to offer lifetime Netflix and Spotify memberships. In this week’s newsletter, read about Playboy’s upcoming virtual mansion in The Sandbox (SAND). Check out how a startup is offering lifetime Netflix and Spotify access through nonfungible tokens (NFTs) and how NFTs can bridge gaming…
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Video game developer Mark Venturelli launched a surprise attack on NFTs at a Brazilian gaming event, and Limewire is trending again following its NFT marketplace launch. GameStop’s new NFT marketplace took home roughly $44,500 from transaction fees in the first 24 hours after it launched via a public beta on Monday. GameStop NFT reportedly generated…
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The public has until Sept. 12 to submit evidence, which the committee may use in its report to Parliament on the risks and opportunities related to crypto and DLT. The Treasury Committee of the United Kingdom’s House of Commons has called on the public to submit evidence related to the role of crypto’s risks and…
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