The cryptocurrency market is growing at an exceptional rate. In fact, many countries are vying for the top spot in terms adoption. As it turns out, a top contender in the $2.8 trillion market, is Russia. The country conducted trades of over $5 billion over the past year, according to the country’s central bank. TheContinue reading “Central bank acknowledges Russia’s leading role in crypto industry, outlines major risks”

Two months after El Salvador scripted history to become the first country to officiate Bitcoin as legal tender, proponents of the financial industry still don’t seem completely sold on the idea. Andrew Bailey, who is the Governor of the Bank of England, recently raised concerns about the same while speaking at a conference, according toContinue reading “Bank of England Governor raises concerns about El Salvador’s Bitcoin adoption”

At a time when most financial regulators worldwide are sailing their way through enacting cryptocurrency regulations, the European Union (EU) has been assuming an urgent pace to release a planned framework regarding the novel asset class. The next step towards the same was taken on Wednesday, when the European Council, which guides the EU’s politicalContinue reading “EU ‘Markets in Crypto Assets’ proposal places emphasis on stablecoin governance”

The mainstream adoption and acceptance of Bitcoin over the past couple of years has translated into good numbers. The cryptocurrency network reportedly surpassed the leading payment platform PayPal, by conducting 62% more transactions in terms of dollar value, as per a report by Blockdata. Although this was a significant milestone to achieve, the real testContinue reading “Transaction volumes on Bitcoin surpass PayPal, will it beat Mastercard, Visa next”

India is preparing to welcome the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021. However, speculations around an alleged ban on “private cryptocurrency” have taken over the Indian market. In fact, soon after the first reports broke out, one of India’s leading crypto-exchanges WazirX crashed. Reportedly, the exchange has been witnessing heavy traffic sinceContinue reading “India: Survey finds majority distrust cryptos, don’t support taxation, legalization”

International sports stars and championships have become a preferred mode of marketing for many cryptocurrency exchanges worldwide, with their loyal supporters and crazy fans serving as a great potential userbase. In fact, a recent report predicted that cryptocurrency advertising on sports television could grow to be a $100 million industry in the U.S in theContinue reading “Spain’s CNMV cautions FC Barcelona legend Iniesta about using Binance”

Earlier today, the Ethereum network managed to successfully burn 1 million ETH, worth over $4 billion at the time of writing. This milestone was achieved over three months after the London hard fork (EIP-1559) was successfully activated back in early August. Thanks to EIP-1559, the base fee is burned during each transaction to steadily decreaseContinue reading “Ethereum: 1 million ETH now burned, but here’s why the Merge cannot wait”

The United States Securities and Exchange Commission’s lawsuit against Ripple Labs revealed several facets of the regulatory body’s approach towards cryptocurrencies. In fact, many believe the SEC allegedly favored top cryptocurrencies like Bitcoin and Ethereum over the rest of the market. Matt Hamilton, Director of Developer Relations at Ripple, recently reiterated that narrative. In anContinue reading “‘If you call XRP the banker coin, then Bitcoin’s the drug dealer coin’”

Hours after issuing scathing criticism against the Ethereum network, Three Arrows Capital CEO Zhu Su has backtracked on his comments. He claimed that the previous post had been made in the “heat of the moment”. In a Twitter thread posted hours after the original, Su apologized for the outburst and claimed that there are “greatContinue reading “‘Always grateful’ – Three Arrows Capital CEO retracts ETH abandonment tweets”

Akin to regulators the world over, the United Kingdom’s Financial Conduct Authority (FCA) has been tightening its grip around the cryptocurrency in a bid to eliminate bad elements. The watchdog is now looking for experts that could train its staff on the identification of criminal activity using cryptocurrencies, according to a tender notice cited byContinue reading “UK’s FCA to spend over $650k to train staff on crypto crimes identification”

Despite heightened adoption and acceptance, it can’t be denied that the whole cryptocurrency industry is perceived to be a high-risk investment. In fact, many are averse to the constant market volatility, scams, hacks, rug pulls, and speculation plaguing the market. This is, perhaps, even truer for the DeFi sector. Especially since it has fallen victimContinue reading “‘Ten years from now… Everybody’s gonna wish they just bought more Bitcoin’”

One factor that continues to weigh down the legitimacy of the cryptocurrency industry is the constant hacking and scamming the space is plagued with. Even with increased vigilance and security measures, another cryptocurrency protocol, Tsuzuki Inu, has done it again. They have managed to run off with millions of dollars in investors’ funds, highlighting theContinue reading “Like SQUID, another memecoin pulls off a million dollar scam”