Can Web3 replace Web2… and what stands in the way of this happening? We look at some of the biggest challenges facing this burgeoning sector right now. Web3 is the buzzword that’s on everyone’s lips — but when you put the mania aside for a moment, there’s a burning question that needs to be asked:…
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Acquiring the assets of Celsius would imply FTX’s intent to save the lending firm, similar to what FTX US did for Voyager by securing the winning bid of approximately $1.4 billion. Crypto exchange FTX, led by crypto billionaire Sam Bankman-Fried (SBF), is reportedly considering bailing out Celsius Network by bidding on the bankrupt lender’s assets.…
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In the aftermath of its aggression against Ukraine, Russia is intensifying plans to use its central bank digital currency (CBDC), the digital ruble, in the country’s trade with China. The development could encourage other nations across the world to use CBDCs in mutual settlements with foreign partners, accelerating global crypto adoption…. Read More: Why Russia’s…
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Bitcoin price attempted a strong increase above the $20,000 resistance zone. BTC failed and declined sharply below $19,000. It is currently (03:10 UTC) showing bearish signs, but it is testing a major support at $18,500. Similarly, most major altcoins started a steady decline. ETH broke the $1,300 support and declined to $1,265. XRP is down…
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PRESS RELEASE. The preservation of the Euro sculpture in downtown Frankfurt, Germany, has been in danger in recent months as no sponsors were willing to provide the required financing. At the same time, the costs of maintaining the sculpture have risen considerably, mainly due to increased levels of vandalism. The independent non-profit association Frankfurter Kultur…
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Federal Reserve Chairman Jerome Powell says decentralized finance (defi) has “very significant structural issues,” emphasizing a “real need” for more appropriate regulation of the defi ecosystem. Fed Chair Jerome Powell on Defi Regulation Federal Reserve Chairman Jerome Powell talked about the regulation of decentralized finance (defi) Tuesday during a panel discussion on digital finance hosted…
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South Korean prosecutors are seeking to freeze 3,313 bitcoins at two cryptocurrency exchanges allegedly tied to luna founder Do Kwon. The coins were moved soon after a South Korean court issued an arrest warrant for the Terraform Labs co-founder. Luna Foundation Guard has denied transferring the coins. Korean Authorities Ask Crypto Exchanges to Freeze Bitcoin…
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According to a representative from the bitcoin mining company backed by the Chinese crypto billionaire Jihan Wu, Bitdeer is crafting a $250 million fund to buy distressed assets from embattled bitcoin miners. Bitdeer’s chief executive officer Matt Kong details that “opportunities” arise in “every cycle.” Bitdeer Wants to Acquire Cheap Machines From Distressed Bitcoin Miners…
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The Internet hacktivist group called on high-profile celebrities and big brands to speak up and take a stand. On Sept 26, internet hacktivist group Anonymous released a video addressing blockchain technology company Yuga Labs and its NFT-driven social club, Bored Ape Yacht Club (BAYC). The group’s statement included a laundry list of allegations regarding Yuga…
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IRS rules weren’t ready for the Ethereum upgrade. It’s unlikely to become the fiasco that taxpayers experienced when Bitcoin forked in 2017, but there are measures they can take to prepare for whatever the IRS decides. After much buildup and preparation, the Ethereum Merge went smoothly this month. The next test will come during tax…
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