The Federal Reserve delivered an interest rate hike of 75 basis point today, lifting the target range of its benchmark interest rate to between 2.25% and 2.5%. The move met the expectations of analysts, who predicted the Fed would lift interest rates by 75 basis points this month. Less than a week ago, the European Central Bank shocked investors as…
Blockchain protocol Algorand’s chief executive officer Steven Kokinos has announced he will be leaving his position to focus on projects related to scaling adoption. In a Wednesday Twitter thread, Kokinos said he will be transitioning out of his role as Algorand, where he worked as CEO from October 2018 after leaving software development company Fuze. According to Algorand, Kokinos will…
Algorand CEO Steven Kokinos has resigned to pursue “other interests,” but plans to continue as a senior adviser until mid-2023. Kokinos is leaving Algorand the company, but not Algorand the blockchain. Early Wednesday morning, Kokinos shared in a statement that he’ll be moving on to “focus on key projects in the Algorand ecosystem that will help scale adoption.” Kokinos didn’t…
Komainu has received provisional approval to offer institutional bitcoin and cryptocurrency custody services in Dubai.The company is a joint venture by $471 billion Nomura Bank, CoinShares and Ledger. Komainu is considered operationally ready while regulators perform their due diligence before issuing a full approval. Komainu, a digital asset custodian backed by $471 billion Japanese investment bank Nomura, has received a…
On Wednesday, the cryptocurrency payments service company Bitwage announced that the Ultimate Fighting Championship (UFC) strawweight Luana Pinheiro will be the first female UFC fighter to be paid in bitcoin. Pinheiro’s boyfriend, a UFC flyweight fighter, started getting paid in bitcoin last March and after her eight-fight winning streak, Pinheiro decided to follow her partner’s decision to get paid in…
United States equities markets and the cryptocurrency markets are heading into the Federal Reserve’s interest rate decision on July 27 on a positive note. This suggests that the market participants believe the Fed will deliver a 75 basis point rate hike, which in line with market expectations. Some economists expect the Fed to calm the markets by indicating less aggressive…
Ethereum has taken yet another small—but crucial—step toward the merge, the blockchain’s much-hyped and oft-punted transition to proof of stake. Scheduled for today, Ethereum’s 10th shadow fork actually went live early yesterday, a full 26 hours ahead of schedule. Shadow forks are a focused trial run of aspects of the merge; they practice making one or two specific changes to…
The major stablecoin issuer Tether has reiterated that the company plans to completely get rid of commercial paper backing for its U.S.-dollar stablecoin USDT already this year. In a blog post on July 27, Tether said it “holds no Chinese commercial paper as of today,” while its total commercial paper exposure has been cut to $3.7 billion from $30 billion…
press release PRESS RELEASE. Streaming social game platform Gamestar+ has confirmed an official partnership with blockchain developer Ava Labs, commencing the development of the technological framework that will allow Gamestar+ to bring the most iconic and well-known interactive IPs and entertainment brands as family gaming experiences, with powerful web3 and play-and-earn features. The new partnership, officially announced on 07/15, will…
The chair of the European Banking Authority, or EBA, a European Union agency that regulates banking activities, has reportedly expressed concern that a dearth of talent experienced in the crypto space could hurt its ability to overse the market. According to a Wednesday report from the Financial Times, EBA chair José Manuel Campa said that hiring and retaining staff knowledgeable…
