In remarks that appear to pour cold water on assertions that digital currencies will topple the U.S. dollar anytime soon, a former governor of the Chinese central bank, Zhou Xiaochuan, insisted the greenback will remain in its position as the global reserve currency. Xiaochuan said the dollar still “has great inertia.” Process to Change Role of Dollar Very Slow The…
NEAR saw recent losses extend on Wednesday, as it fell to a one-month low during today’s session. The decline in NEAR came as XMR also traded in the red, falling to a multi-week low in the process. NEAR Protocol (NEAR) NEAR was one of the biggest tokens to fall on hump-day, as prices fell to a one-month low earlier in…
WAX Studios, a Web3 company focused on and affiliated with the NFT-centric WAX blockchain, is continuing its push into play-to-earn (P2E) gaming. The studio has hired Richard Garfield, mathematician and creator of the tabletop card game “Magic: The Gathering,” to develop a PVP (player vs. player) game mode for Wax Studios’ first NFT game, “Blockchain Brawlers.” “I am aiming for…
Crypto exchange Binance will announce the location of its holding company “soon,” CEO Changpeng “CZ” Zhao has revealed. Speaking at the Financial Times Crypto and Digital Assets Summit, Zhao was asked where the holding company that sits at the top of a “traditional corporate structure” is based, in Binance’s case. He replied, “We already have that,” and that “we will…
ApeCoin surged on Wednesday morning, rising 7% to trade at $19.10, pushing its seven-day gains over 22%. This comes a week after Bored Ape Yacht Club (BAYC) creator Yuga Labs announced it would be launching its Otherside metaverse on Saturday. Since then, ApeCoin (APE)—the standard currency required in Otherside—has become the biggest metaverse token by market capitalization, leapfrogging Decentraland’s MANA,…
The first quarter of 2022 saw unprecedented growth in terms of venture-capital (VC) activity in different blockchain sectors. In 2021, VCs poured in over $30 billion into infrastructure, nonfungible tokens (NFTs), decentralized finance (DeFi), centralized finance (CeFi) and Web3. That set the bar pretty high if 2022 was going to beat it. In the first quarter of 2022, capital inflows…
Riot Blockchain launches development of 1 GW facility in Navarro County, Texas for bitcoin mining and hosting. The development’s initial phase will see the facility with 400 MW of capacity and is expected to create 270 jobs in the local economy. The facility will be immersion-cooled and is expected to be operational by July 2023. Riot Blockchain (Nasdaq: RIOT) is…
In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers emerging technologies within the crypto, decentralized finance (DeFi) and blockchain space, as well as their roles in shaping the economy of the 21st century. The impending Metaverse dominates crypto headlines as analysts almost obsessively race to predict what innovations the new digital world will bring. Facebook’s rebranding to…
According to a working study published by the U.S. National Bureau of Economic Research (NBER), most Salvadorans stopped using the Chivo wallet after getting their $30 bitcoin bonus. The report shows that the median Chivo wallet user made no deposits or withdrawals in a given month. NBER Study: Only 4 out of 10 Salvadorans Use Chivo Wallet After Government’s Bitcoin…
The Central African Republic (CAR) has adopted bitcoin as legal tender, the president’s office said on Wednesday. The move makes the African country the second nation in the world to officially adopt BTC as a lawful currency, enabling its citizens to use it in regular commerce as well as to pay taxes. CAR lawmakers unanimously approved a bill legalizing the…
