Babel Finance has been able to address some of its closest liquidity problems. The Hong Kong-based crypto lender reached a debt settlement deal with some counterparties it has. Necessary Deals Across Every Table It was initially reported that the firm temporarily suspended redemption and withdrawals. The event which took place on the 17th of June…
Last year, Israel’s central bank carried out a CBDC research to embrace the digital economy. The research for the digital Shekel lasted for over a year. However, the Bank of Israel (BOI) is not ready to issue the digital Shekel. Meanwhile, the BOI has stated that the supervision of smart contracts should be under its…
On the 19th of June, Elon Musk reaffirmed his support for the memecoin, DOGE. Additionally, the serial entrepreneur noted that he is accumulating the token despite the market crisis. Consequently, the token’s price shot up by over 7% after the news, trading at $0.057. However, the currency has dipped by about 13% in the past…
Crypto scammers are ravaging the crypto space and have moved to social media platforms. On these platforms, they prey on unsuspecting users and defraud them of their crypto holdings. Sean Ragan, a special agent of the U.S. FBI, told CNBC that: “Cryptocurrency scammers on LinkedIn are a huge threat to users.” Meanwhile, LinkedIn acknowledged that…
Over the years, Bitcoin has maintained its status among the top ten assets globally. It was even dubbed the best-performing asset. However, the recent market crisis has driven it from the top ten. With a total valuation of over $390 billion, BTC is in the 16th position. High-profile conventional financial products have since overtaken the…
Cryptocurrencies such as BTC and ETH are gaining widespread popularity and adoption. They are becoming an alternative to conventional financial assets. As a result, nations are taking steps to govern and tax the nascent asset class. Also, it has revealed penalties for those who evade crypto tax payments. In the US, the agency tasked with…
In the latest news, a Russian institute is working on establishing a sandbox. The project aims at improving crypto payments across borders. In addition, the sandbox will help to identify possible technological and regulatory challenges. As a result, the institute will be able to tackle them before full implementation. Russia Ready To Test Cross-border Crypto…
According to new proposals to existing Brazilian law, crypto payment may become legal soon. Also, the amendment will protect the private keys of crypto users from court orders. As a result, a court can not give orders to seize the key of a crypto wallet. However, it has the power to order exchanges to freeze…
Celsius has decided to put a hold on withdrawals and related activities on its platform. There will also be no transfers or crypto swapping. The crypto lending platform says it takes the decision due to poor market conditions. More obviously, the decision comes from long-term rumors that the platform might become insolvent. The fears follow…
An Innovator’s Perspective Charles Hoskinson has said the bearish trend in the crypto market is not all bad. In an interview with Yahoo! Finance, the Cardano creator said the conditions create an environment for technological progress. Hoskinson was more concerned about the new opportunities the downturn might be presenting. He said that bullish markets can…
A Twelve-Month Analysis Decentralized Autonomous Organizations have drastically gained numerical strength in the last twelve months. Their participation rate has equally improved in unprecedented ways in the same period of time. Nevertheless, it doesn’t look like decentralized governance is catching up with the trend. Like DAOs, the number of proposals relating to governance has also…
New Funding for a Prosperous Future Solana, through its venture and foundation arms, has set up a hundred million dollar fund to support South Korean projects. The target of the fund includes projects in DeFi, blockchain games, and NFTs. Further to supporting projects based on the Solana network, the fund will also aid some Terra…
