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Taiwan’s Central Bank Embarks on CBDC Trials

Taiwan’s Central Bank is developing digital currency activities, particularly in creating a Central Bank Digital Currency (CBDC). President Yang Chin-long has emphasised a systematic approach to ensuring long-term progress rather than a quick start. This strategic step involves investigating the use of special-purpose tokens in government bids to improve openness and efficiency. A prototype platform […]

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The Growth of Solana’s Liquid Staking Ecosystem

As Solana rises to fifth place among global cryptocurrencies, its liquid staking environment is expanding rapidly, reflecting its growing usage. The liquid staking ratio increased by 1.76% this quarter, with the quantity of Liquid Staking Tokens (LSTs) doubling, indicating market diversification. This transition is shown by the decline in dominance of the top three liquid […]

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Turkey’s Advancements in Cryptocurrency Tax Legislation

Turkey’s Treasury and Finance Minister Mehmet Şimşek plans to implement a cryptocurrency tax, signalling a significant shift in the country’s financial landscape. This legislative action comes amid a boom in capital inflows, partly due to Moody’s enhanced outlook following Turkey’s removal from the Financial Action Task Force (FATF) grey list. The new tax plan seeks […]

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Binance Blocks Accounts in Megadrop Airdrop Scandal

Binance has reported blocking 297 accounts associated with fraudulent activity regarding the Megadrop airdrop in a firm move to maintain system integrity. The action was taken after determining that these accounts utilised KYC verifications to fraudulently claim airdrop rewards, particularly a single account that manipulated 9,000 KYC verifications to accumulate 630,000 USDT. Background on Airdrops […]

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Strategic Disposition: Germany’s Government Divests 400 BTC to Top Exchanges

The German government donated 400 Bitcoins worth around $24.3 million to Coinbase and Kraken, two leading cryptocurrency exchanges. This transaction follows last week’s transfer of 1,700 bitcoins across numerous platforms, indicating a significant surge in governmental engagement in the cryptocurrency area. As considerable sums of digital money change hands, the impact on Bitcoin’s market price […]

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South Korea’s ETF Caution: Economic Risks and Future Prospects

The Korea Institute of Finance (KIF) recently strongly warned against the probable introduction of Bitcoin and Ethereum exchange-traded funds (ETFs) in South Korea. The research highlights serious worries, claiming that such financial instruments could harm the local economy and increase market risks. KIF’s conservative approach emphasises the importance of carefully evaluating the potential consequences of […]

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Crypto Market Narratives: Telegram’s Blockchain and the Coming Summer Chill

Telegram’s blockchain, TONNE, is gaining traction in the cryptocurrency industry, carving out its own story in an environment dominated by Bitcoin and Solana. While many cryptocurrencies need help to maintain their value, TONNE defies the trend with its unique projects and increasing usage. Despite the more significant market’s possible troubles this summer, TON’s progress provides […]

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Tether Introduces Alloy: A Gold-Backed, Dollar-Pegged Stablecoin

Tether is breaking new ground with the introduction of Alloy (aUSDT), a stablecoin linked to the US dollar and backed by gold. Alloy is over-collateralised by Tether Gold (XAUt), which reflects physical gold ownership and is intended to function as a synthetic dollar. This novel technique lets holders keep their gold exposure while employing a […]

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ASX Greenlights First Spot Bitcoin ETF

The Australian Securities Exchange (ASX) has approved the first spot Bitcoin exchange-traded fund (ETF). The ETF, to be launched by investment firm VanEck under the moniker VanEck Bitcoin ETF (VBTC), represents a significant step forward in the accessibility of Bitcoin investments via traditional financial channels. This approval, set to begin trading on June 20, 2024, […]

Blockchain News

Chainalysis Triumphs Over $80 Million Lawsuit in Court Victory

Chainalysis, a renowned blockchain analysis firm, recently won a $80 million lawsuit from a former employee. The Manhattan Supreme Court dismissed allegations that the business breached an oral agreement over stock options. The court’s judgement, which emphasised the value of written agreements in contractual disputes, strengthens Chainalysis’s legal standing while underscoring the importance of formal […]

Blockchain News

Growing Pains: Hong Kong’s Virtual Asset Spot ETF Faces Bank Resistance

Despite growing institutional investor interest in Hong Kong’s virtual asset spot ETF, traditional banks are unwilling to participate, citing regulatory uncertainty and a severe shortage of technical knowledge. This cautious posture by major financial institutions casts doubt on the ETF’s viability, underlining the challenges of integrating novel financial instruments into traditional banking structures. Institutional Surge […]

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$215 Million Boost: ARB Foundation’s Big Bet on Gaming Innovation through Arbitrum

The ARB Foundation has approved a $215 million funding campaign to support gaming companies on the Ethereum rollup-based Layer 2 network, Arbitrum. The issue of 225 million ARB tokens will power the newly created Gaming Catalyst Programme (GCP), supporting growth within the thriving developer and player ecosystem. This intelligent step will likely strengthen Arbitrum’s position […]

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