Social media users have slammed China’s reported use of military tanks to intimidate bank customers protesting against the freezing of their savings. Some users claimed the deployment of military tanks exposes the country’s underlying economic problems. Crypto proponents see the issue as a vindication of their long-standing argument. Savings Now Investment Products Some social media users have derided Chinese authorities’…
The Bank of Central African States, or Banque des États de l’Afrique, which serves Cameroon, the Central African Republic, Chad, Equatorial Guinea, Gabon, and the Republic of the Congo, could be closer to releasing a central bank digital currency reportedly at the urging of its board. According to a Friday report from Bloomberg, the board sent an email calling for…
An alliance of Web3 companies has come together to build an open and borderless metaverse called OMA3, or the Open Metaverse Alliance for Web3. The group says it aims to solve key challenges of the nascent metaverse, including preserving the freedom of information owned by users. Projects joining the alliance with Animoca Brands include Alien Worlds, Dapper Labs, Decentraland, Star…
This crypto winter, rumors of FTX rescuing or acquiring struggling crypto companies have proliferated—and now South Korean crypto exchange Bithumb is said to be on FTX CEO Sam Bankman-Fried’s shopping list. According to a report from Bloomberg, FTX is in late-stage talks to potentially acquire Bithumb, which has over 8 million registered users. The conversations have reportedly been in progress…
FTX and Alameda Ventures want to offer Voyager Digital customers a chance to start a new FTX account with an opening cash balance funded by an early distribution on a portion of their bankruptcy claims, FTX announced in a statement Friday. To accomplish this, Alameda Ventures said it would like to buy all Voyager digital assets and digital asset loans,…
Blockchain gaming and the play-to-earn model was all the rage in 2021, but overtime the model declined as a few kinks were revealed and the wider NFT and crypto market hit a few speed bumps. It’s safe to say, the sector is “down, but not out” and it’s entirely possible that blockchain gaming could see another 2021-style surge once the…
China’s Tencent Holdings plans to shut down its non-fungible token (NFT) platform Huanhe only a year after its launch. The social media giant has reportedly made the decision because of the strict ban on the resale of NFTs imposed by the authorities in Beijing. Huanhe to Close Down a Year After Launch as China Curbs NFT reselling Shenzhen-headquartered technology conglomerate…
The mood across the cryptocurrency ecosystem is noticeably brighter on Friday after a week of gains helped traders put the events of the past two months behind them and look towards a positive future. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) has been oscillating around support at $23,000 over the past couple of…
Argentina, a country battered by sky-high inflation, is restricting Bitcoin traders from buying U.S. dollars at the official exchange rate in a bid to tame capital flight. In a Thursday announcement, the country’s central bank said that those who have bought Bitcoin or any other digital asset in the past 90 days with pesos will not be able to access…
Welcome to Finance Redefined, your weekly dose of key decentralized finance (DeFi) insights — a newsletter crafted to bring you some of the major developments over the last week. This past week, the DeFi ecosystem saw several new developments related to the DeFi lending crisis as Celsius filed for bankruptcy. At a time when bears are more dominant in the…
