Vitalik Buterin, co-founder of Ethereum (ETH), has proposed the “Plurality” philosophy to address the conflict between the cryptocurrency ecosystem and more conventional forms of governance. Though he acknowledges that this pluralistic approach may improve current systems, he fails to see any chance of a substitute. American writer and economist Glen
August 21, 2024 2 mins read
Abu Dhabi is taking significant steps towards regulating fiat-referenced tokens (FRTs), a specific type of stablecoin. The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) introduced a proposed framework on August 20. It aimed at overseeing the issuance and operation of FRTs. FRTs are digital assets
August 21, 2024 2 mins read
An unaudited report detailing the financial and operational performance of BitFuFu, a cloud mining firm affiliated to Bitmain, was published for the second quarter of 2024, concluding on June 30. In light of the difficulties and expansion the company has faced over the last year, the findings show that the
August 20, 2024 1 min read
Bitcoin (BTC) has recently been compared to historical market indexes, notably the Nikkei 225, by crypto analyst TechDev. He suggests BTC could mirror the Nikkei and hit $1 million by 2027 before a major correction. TechDev is optimistic about BTC’s future, comparing its trend to the Nasdaq’s, suggesting it might
August 20, 2024 2 mins read
CryptoPunks is a groundbreaking project of 10,000 collectible characters or crypto avatars on the Ethereum blockchain. It has recently experienced dramatic fluctuations in value due to a dip in “blue chip” NFTs. CryptoPunks launched in July 2017, is celebrated as one of the earliest examples of non-fungible tokens (NFT), inspiring
August 20, 2024 2 mins read
Insolvent Crypto lender Celsius Network has filed a notice to the court about its intentions to distribute funds to creditors. In a filing submitted to the US Bankruptcy Court for the Southern District of New York, the attorneys for the business outline their strategy to repay creditors via the use
August 20, 2024 1 min read
After a long period, US Federal Reserve (Fed) policymakers are considering a rate decrease in September, shifting gears from maintaining rates constant to cutting rates. Neel Kashkari, president of the Minneapolis Federal Reserve, has confirmed that September is a suitable time to discuss potential Fed rate decreases. Bitcoin investors are
August 19, 2024 2 mins read
The National Bank of Ras Al Khaimah (RAKBANK) has announced a strategic partnership with Bitpanda Technology Solutions. The partnership led to the launch of a new digital asset management platform for residents of the United Arab Emirates (UAE). The initiative, pending approval from the Central Bank of the UAE (CBUAE),
August 19, 2024 1 min read
South Korean employees of the prominent crypto exchange, Upbit, are earning more than their equivalents at major banks. This is due to the booming cryptocurrency market. Recent data from the Financial Supervisory Service (FSS) reveals that the average salaries at Upbit’s operator, Dunamu surged to 133.73 million South Korean won
August 19, 2024 2 mins read
Australia’s financial markets regulator (ASIC) has launched a major effort to combat online investment fraud. ASIC has announced the removal of more than 7,300 scam websites in its first year of operation. The Australian Securities and Investments Commission (ASIC) revealed on August 19, 2024, that it has successfully dismantled 5,530
August 19, 2024 2 mins read