The Lebanese government is reportedly planning to devalue the local currency by up to 93% in a desperate bid to receive funding from the International Monetary Fund (IMF). As part of the plan, a major portion of foreign currency deposits in the banking system will be converted into local currency at different exchange rates. Bailout Only Path Out of Crisis…
Crypto exchange Coinbase has filed for a political action committee reportedly to support “crypto-forward lawmakers” ahead of the 2022 midterm elections in the United States. According to a Feb. 7 filing with the Federal Election Commission, Coinbase’s chief financial officer Alesia Haas and head of U.S. policy Kara Calvert registered the Coinbase Innovation PAC. The lobbyist/registrant political action committee will…
Brantly Millegan is not a household name—not even in the households of crypto users. His Twitter account, with an NFT avatar, subtly underlined his relative anonymity in the space. He’s a builder, not a founder or CEO. But last week, the director of operations of the Ethereum Name Service (ENS) came under public scrutiny for a tweet he wrote in…
Bitcoin equals abundance and can uplift every man, woman, and child in the world, according to serial entrepreneur, technologist, New York Times best-selling author, and TED Speaker Peter Diamandis in an exclusive interview with Bitcoin Magazine. “Bitcoin is digitized currency and energy, and it is going to dematerialize a lot of institutions and demonetize and democratize access to this,” Diamandis…
The decentralized finance (defi) lending platform Aave has revealed the launch of a Web3 social media platform called the Lens Protocol. According to the team, Lens is a “Web3, smart contracts-based social graph” that is built using the Polygon blockchain. Defi Project Aave Drops the Lens Protocol, Platform’s Intent Is to ‘Empower Creators to Own the Links Between Themselves and…
Commodity Futures Trading Commission chair Rostin Behnam is looking to members of Congress to address the commission’s lack of enforcement authority in the digital asset space. At a Wednesday hearing titled “Examining Digital Assets: Risks, Regulation, and Innovation,” Behnam told lawmakers with the Senate Committee on Agriculture, Nutrition, and Forestry that the CFTC’s authority was currently limited to addressing fraud…
For payment tokens such as Alchemy Pay’s ACH, there may not necessarily be a world where cryptocurrencies are widely accepted as a medium of exchange for everyday transactions, such as buying a gallon of milk in the grocery store, without fiat. This is because two parallel economies exist, and bridges between fiat and cryptocurrency are needed for the time being.…
In brief OpenNode utilizes the Lightning Network. The Series A included investments from Twitter and Tim Draper. OpenNode, a Bitcoin payments provider utilizing the Lightning Network, has just finished a $20 million Series A funding round at a $220 million valuation. Led by Kingsway Capital, the oversubscribed raise featured smaller contributions from Twitter, Tim Draper, and Avon Ventures—an affiliate of…
The Bitcoin Design Community launched the second version of the Bitcoin Design Guide, an open resource aimed at helping product designers and developers build more user-focused Bitcoin applications, according to a statement sent to Bitcoin Magazine. The guide’s first version, launched last year in June, brought together principles for non-custodial Bitcoin products and provided demonstrations and techniques for helping users…
Multi-chain token bridge Allbridge will become the first to offer Stacks (STX) transfers as part of a partnership with Bitcoin software developer Daemon Technologies. STX is the native token for the Stacks Layer-1 blockchain which settles transactions on the Bitcoin (BTC) network. It currently has a market cap of $1.7 billion. Allbridge currently serves 12 blockchains including Ethereum, various Ethereum-compatible…
