According to Phillip Lowe, Governor of the Australian Central Bank, a private solution for cryptocurrencies “is going to be superior.” That is, as long as risks are reduced by regulations. Lowe expressed these opinions at a recent G20 finance summit in Indonesia. During the same, officials from various countries reportedly spoke about the effects ofContinue reading “Australian Central Bank bats for private solution to cryptos if…”

Dominating investor interest has been a significant roadblock for many cryptocurrencies. One reason is the crypto-market’s inability to activate revival mode. For Algorand [ALGO], it has been a tough year. From its capitulation in May to the alt plunging further later on, ALGO has been in contention as one of the top fatalities of theContinue reading “Is there more to Algorand’s [ALGO] recent efforts to get investors back”

Popular cryptocurrency exchange OKX has for long had plans to expand its operations in the UAE. It has now been given provisional regulatory authorization by the Dubai Virtual Assets Regulatory Authority (VARA). With a provisional virtual asset license, the crypto-exchange would provide goods and services to local financial service providers and pre-qualified investors. In fact,Continue reading “OKX set for expansion in the UAE after VARA license”

Due to a lack of regulatory oversight at a time of economic and political upheaval, the Central Bank of Sri Lanka, or CBSL, has advised the public against purchasing cryptocurrencies. In a notification, the CBSL declared that it has not granted any Sri Lankan business permission or a license to perform services relating to cryptocurrencies,Continue reading “Sri Lanka commits to crypto-restrictions despite economic crisis”

Blockchain investments have been sporadic, but GameFi is one sector that is continuing to grow. This, despite the wider market’s collapse. Even though a majority of the investors are focused on the most recent crises surrounding centralized finance (CeFi) and decentralized finance (DeFi), the blockchain gaming business has subtly weathered the storm better than otherContinue reading “WAX, Hive, BNB Smart Chain – The why of how GameFi is still afloat”

Michael Saylor, CEO of MicroStrategy and a supporter of Bitcoin (BTC), has reiterated his claim that BTC is the only commodity in the cryptocurrency market. In fact, he ruffled some feathers by claiming that Ether (ETH) is “clearly” a security. The exec made these comments when he was questioned in an interview recently. He was askedContinue reading “This exec believes ‘it’s pretty obvious’ Ethereum is a security”

Shanghai wants to lead China’s economic recovery by promoting the growth of metaverse goods and services, low-carbon energy initiatives, and smart terminal technology. The Shanghai government plans to establish an industrial fund with assets worth 10 billion yuan, or around $1.5 billion. This will be exclusively for the growth of the metaverse, according to aContinue reading “Tracing the next steps in Shanghai’s plans for the Metaverse”

As businesses prepare for a heat wave that is anticipated to strain the electricity grid, nearly all industrial-scale Bitcoin miners in Texas have turned off their equipments. Due to Texas’s affordable energy prices and lax regulations on cryptocurrency mining, miners like Riot Blockchain Inc., Argo Blockchain Plc, and Core Scientific Inc., have flocked there. ByContinue reading “Bitcoin miners push the pause button in Texas as power issues loom”

Ruchir Sharma, Managing Director and Chairman of Rockefeller International, claims that Bitcoin (BTC) is essentially a great idea. One that has been wrecked by too much access to cheap capital and speculative zeal, however. Ruchir Sharma is the latest to join the list of well-known personalities who back the sustained existence of Bitcoin. Sharma expressedContinue reading “When will Bitcoin [BTC] make a comeback? This exec thinks…”

Around 50 distinct cryptocurrency projects that were based on the defunct Terra Network have now switched to Polygon. In a 9 July tweet, Ryan Wyatt, CEO of Polygon Studios, expressed his happiness at his network’s ability to integrate so many projects into the ecosystem. He also made a suggestion that the Terra Developer Fund, aContinue reading “How Polygon is taking advantage of this latest exodus from Terra”

Mike McGlone, Senior Commodity Strategist at Bloomberg, predicts a rise in the price of Bitcoin in the second half of 2022. On 6 July, McGlone tweeted his observations, noting that the Bloomberg Galaxy Crypto Index (BGCI) and the 50-week and 100-week moving averages for BTC showed encouraging trends. He asserted that the current indicators resembleContinue reading “Analyst on Bitcoin – ‘Risk v. rewards is tilting towards…’”

Gary Gensler’s “legendary” opposition to the adoption of a spot Bitcoin ETF has been criticized by The Wall Street Journal Editorial Board. The sharply worded opinion piece, which was released on 6 July, lambasted the Gensler-led Securities and Exchange Commission (SEC) for glaring differences in how the commission handles requests for exchange-traded products (ETPs) relatedContinue reading “Gensler’s ‘legendary’ opposition to spot Bitcoin ETFs gets a new critic”