According to a report, the Central Bank of Nigeria (CBN) is planning to have its proposed digital currency designated “critical national infrastructure” in order to protect it from operational and cyber-security risks. In addition, the CBN will also apply regulatory and compliance mechanisms to prevent what it calls “disruptive competition for electronic money.” Cost Versus …
Tag archives: Bitcoin
Circle Intends to Become a Full-Reserve National Commercial Bank
Circle, a cryptocurrency fintech services company, announced it intends to become a full-reserve national commercial bank. This would bring a set of responsibilities and duties to the company equal to those of other mainstream banks: having to report to the Federal Reserve, U.S. Treasury, OCC, and the FDIC. However, it would also put the company …
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Chainalysis Announces It Will Include Dogecoin Coverage in Its Reports
Chainalysis, one of the leading blockchain intelligence companies in the world, has announced it will now cover the Dogecoin network in its reports. The company argues that dogecoin became one of the most known cryptocurrencies in the world after being promoted by Elon Musk, CEO of Tesla during this year. This, consequently, has attracted criminals …
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BENQI and Avalanche Launch $3M Liquidity Mining Initiative to Accelerate DeFi Growth
press release PRESS RELEASE. BENQI, an algorithmic liquidity market protocol, and the Avalanche Foundation are collaborating on a joint liquidity mining program to celebrate the launch of the BENQI protocol on the 19th of August and the next phase of growth within Avalanche’s DeFi ecosystem. $3MM of AVAX will be allocated as liquidity incentives for …
The biggest DeFi hit ever: Poly Network sees $600 million crypto heist
A decentralized finance (DeFi) cross-chain bridging protocol Poly Network recently announced that it has suffered an attack in which the hacker stole over $600 million across three blockchains. The cross-chain interoperability network flagged the attacker’s addresses on Twitter, which revealed the extent of a massive exploit, urging miners of the affected blockchains and crypto exchanges …
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Venezuela cut off power to Bitcoin (BTC) mining plants despite legalization
Bitcoin (BTC) miners in one of Venezuela’s most important industrial states, Carabobo, had their electricity cut off by authorities, Criptonoticias reported. On August 7, the regional officials effectively shut down crypto mining operations in the key state by suspending the power supply to all registered miners in the territory. Putting pressure on underground mining According …
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Man Sentenced to 8 Years in Prison for Stealing Nearly $7 Million of Crypto in Israel
Afek Zard, a resident of Israel, has been sentenced to eight years in prison for embezzling a large sum of cryptocurrency that belonged to a friend of his. The man, who refused to cooperate with the investigation, will have to pay a hefty fine as well. Israeli Resident Sentenced for Cryptocurrency Theft The 27-year-old Zard …
Commissioner Criticizes SEC for Taking Enforcement-Centric Approach to Crypto Regulation
A commissioner with the U.S. Securities and Exchange Commission (SEC) has criticized the securities watchdog for focusing on enforcement actions in its oversight of the crypto industry. SEC Commissioner Slams Agency for Focusing on Enforcement Actions in Regulating Crypto Assets SEC Commissioner Hester Peirce criticized her own agency Monday after it announced an enforcement action …
$1.2 Trillion Infrastructure Bill Passes Senate With Troubling Crypto Requirements
The U.S. Senate has passed the $1.2 trillion infrastructure bill with a crypto reporting requirement provision that has been described as “unworkable.” Senator Ted Cruz warned: “This infrastructure bill has in it a portion that is designed to obliterate crypto. That would be a tragic mistake.” Senate Passes Infrastructure Bill With ‘Unworkable’ Crypto Tax Provision …
‘Whale’ indicator that preceded 2020’s Bitcoin (BTC) crash is now back
Bitcoin proponents and investors are (understandably) calling for a ‘supercycle,’ with predictions of the world’s largest cryptocurrency by market cap reaching as high as $1 million in certain circles. But that party could be spoiled if one technical indicator is to be considered. “$BTC Exchange Whale Ratio(72h MA) reached 90%,” warned Ki-Young Ju, the founder …
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Core Token latest state-of-the-art token closing its pre-sale 11th August 2021
Disclosure: This is a sponsored post. Readers are encouraged to conduct further research prior to taking any actions. Learn more › With the new hype around Core Decentralized Technologies that sees communication as a human right, a company that has been in development for 7 years quietly in the centre of Europe, Slovakia, has popped …
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Paypal’s Venmo Launches ‘Cash Back to Crypto’ Feature to Auto Purchase Cryptocurrencies
Venmo, a Paypal service, has introduced the “Cash Back to Crypto” feature to allow credit card customers to automatically buy four types of cryptocurrencies with their cash back without incurring transaction fees. Cash Back to Crypto on Venmo Payments giant Paypal announced Tuesday a new feature on its Venmo platform called “Cash Back to Crypto” …
EQIFI, the DeFi in Partnership With a Global Bank Now Available on the Bloomberg Terminal
press release PRESS RELEASE. EQIFI, a regulated and licensed decentralized platform for pooled lending, borrowing and investing Ethereum-based cryptocurrencies, stablecoins and select fiat currencies, has announced that its native token, EQX, has been enlisted on the Bloomberg Terminal under the EQX ticker symbol. Bloomberg’s influential audience of financial and business decision-makers will now enjoy access …
Bitcoin Network’s Mining Difficulty Expected to See Largest Increase in Over 2 Months
Bitcoin’s hashrate has been steadily climbing after dropping to 69 exahash per second (EH/s) on June 28, as it reached a high of 117 EH/s on Tuesday morning (EDT). The rise in hashpower will likely lead to the highest difficulty expansion in 89 days as estimates currently show a 7.39% increase is due in two …
Poly Network Hacked for More Than $600 Million — Hacker Trolls Project Saying ‘It Could Have Been a Billion’
On August 10, the decentralized finance (defi) project Poly Network suffered a loss of over $600 million according to various reports. The hack follows a recent Ciphertrace report on how defi-related hacks and fraud in 2021 have already surpassed 2020. The Poly Network hack on Tuesday is well above the entire year’s worth of defi …