Bitcoin does not have a plausible claim to be the money of the future, according to the Deputy Governor of Canada’s Central Bank. During a recent speech in Montreal, Deputy Governor Timothy Lane remained skeptical about cryptocurrencies even in an increasingly digital economy, calling them “deeply flawed as methods of payment.” On the contrary, LaneContinue reading “Canada’s central bank will issue a CBDC ‘only when the time is right’”

SingularityNET, a decentralized platform for AI apps, is in the news today after its most significant democratic vote came to an end, with CEO Dr. Ben Goertzel announcing the results on YouTube. The aforementioned vote took place after a phase two proposal was put forth to the AGI token holding community to determine a numberContinue reading “SingularityNET initiates Phase 2 of migration to Cardano”

Binance, arguably the world’s biggest crypto-exchange, has often made headlines for the host of regular developments in its ecosystem. It is in the news again today after the exchange announced that it has launched staking services for two more tokens, Cardano [ADA] and Cosmos [ATOM]. According to an announcement by Binance Staking, users will nowContinue reading “Binance launches Cardano [ADA], Cosmos [ATOM] staking”

A cybercrime group working on behalf of the North Korean government is now believed to have orchestrated the largest cryptocurrency hack of 2020, according to a report by Chainalysis. The KuCoin hack of 2020 saw $275 million worth of crypto stolen from the exchange after hackers obtained access to the private keys of the exchange’sContinue reading “KuCoin hackers Lazarus Group now changing money laundering strategy: Report”

Bradley Sostack, the lead plaintiff in a class-action lawsuit by investors against Ripple, has now moved to demand all of Ripple’s email communications with the SEC concerning XRP. The motion filed by the lead plaintiff’s counsel, if granted, will compel Ripple to produce “improperly withheld email communications and document retention policies.” The lawsuit, which wasContinue reading “Plaintiff to lawsuit demands Ripple disclose XRP-related emails exchanged with SEC”

Yesterday’s events were a milestone for the larger crypto-industry, with Tesla emerging to become the first Fortune 500 company to announce its successful purchase of Bitcoins. What’s more, Tesla’s $1.5 billion allocation in Bitcoin fueled an instant spike in demand, sending the price of the market’s leading cryptocurrency to a new all-time high of $48,025.Continue reading “Bitcoin: Which company is most likely to follow Tesla’s footsteps?”

In light of Tesla’s $1.5 billion purchase of Bitcoin, market bullishness is at a fever pitch. In fact, right now, many anticipate that corporate treasurers worldwide will follow Tesla’s lead and take a closer look at an allocation towards cryptocurrencies. Tesla is the fifth-largest company in the S&P 500, which is the reason why manyContinue reading “Why did Tesla allocate only 7.7% of its cash reserves to Bitcoin?”

Earlier today, SCB TenX (SCB 10X), a holding company in the Siam Commercial Bank group, announced a $50 million allocation towards DeFi startups and digital assets. SCB is one of the oldest banks in Thailand, and its venture arm, SCB 10X, has invested in several digital asset companies including Ripple, BlockFi, and Alpha Finance Labs,Continue reading “Thailand’s Siam Commercial Bank to invest $50M in blockchain, DeFi startups”

Popular crypto-portfolio tracking company Blockfolio appears to have been hacked. According to reports, many Blockfolio users have received offensive push notifications from the platform, with several cryptocurrencies’ names and values being changed on the app as well. According to some, the hackers managed to breach the notification system by piping into the RSS feed thatContinue reading “Crypto-portfolio tracking company Blockfolio’s notification feeds hacked”

Asia, today, is a dominant force in the crypto-market, with 42% of the market cap of the top-20 cryptocurrencies emerging out of the region. In fact, Asian companies dominate the Futures space too, accounting for 98% of ETH Futures volumes and 94% of BTC Futures volumes. Why is Asia such a dominant force? According toContinue reading “What explains Asia’s dominance in the crypto-space?”

In what is yet another promising development for the Sushiswap ecosystem, Palo Alto-based digital asset platform BitGo has announced its support for SUSHI in its custodial and non-custodial wallets. BitGo is a market leader in institutional digital asset custody, and many in the community believe that its support for SUSHI is hugely bullish for theContinue reading “BitGo announces support for SUSHI in custodial, non-custodial wallets”

Perception and sentiments associated with stocks and cryptos vary from place to place, with the variation in question often dependent on a host of local factors. The same was recently highlighted by a research report by Bitflyer, with the same observing that market sentiment among American investors is very bullish, reinforcing the argument that theContinue reading “Japan, USA-based investors on opposite ends of crypto-favorability: Survey”