What is a gold-backed cryptocurrency? A gold-backed cryptocurrency is a type of digital currency that is backed by physical gold. The currency’s value is based on the current market price of gold and can be used for transactions just like any other type of cryptocurrency. Some cryptocurrencies are backed by gold in order to tie the derivative asset (crypto) to…
“The merge is cause for celebration,” ConsenSys announced on Thursday. And to kick off the festivities, the blockchain firm will release “one of the first sustainable NFT drops on the Ethereum mainnet” called Regenesis. Inspired by the merge, Ethereum’s transition from proof-of-work (PoW) to proof-of-stake (PoS), Regenesis will include various editions of nonfungible tokens (NFTs) of “elaborately detailed worlds that…
Despite the uncertainties brought about by the bear market, on-chain metrics show that the majority of Bitcoin (BTC) traders have been using a very simple trading strategy for more than a year: hodling. According to data from the trading analysis platform TipRanks, while on-chain signals remain bearish for BTC, 62% of wallets have held BTC for one year and above.…
The non-profit organization promoting the creation of the digital dollar, the Digital Dollar Project, has announced the launch of a sandbox program to kickstart the probe of the technical implementations of the envisaged digital currency. The fintech firm Ripple is among the four participants that are expected to help the Digital Dollar Project “explore technical and business implementation questions.” Inaugural…
Pezesha, a Kenyan fintech focused on providing bridging finance to small and medium-sized enterprises, recently raised $11 million in pre-Series A debt-equity funding round. The Women’s World Banking Capital Partners II led the round in which the Cardano blockchain builder Input Output Global also participated. Pezesha Solving Working Capital Problems for MSMEs A Kenya-based fintech, Pezesha, announced recently that it…
This is a transcribed excerpt of the “Bitcoin Magazine Podcast,” hosted by P and Q. In this episode, the hosts are joined by Pete Rizzo, editor at Bitcoin Magazine, editor at large at Kraken and contributor at Forbes, to discuss Bitcoin Maximalism and its relation to moral values. Watch This Episode On YouTube or Rumble Listen To The Episode Here: Pete Rizzo:…
Decentralized crypto derivatives exchange dYdX says it has ended its short-lived and contentious $25 first deposit bonus promo, amid a wave of backlash over its facial recognition requirements for new users. The exchange however simply cited “overwhelming demand” as the reason for its short-lived promotional campaign, which ended on Sept. 1 “effective immediately.” Due to extremely overwhelming demand of the…
A U.S. think tank has launched a “technical sandbox” aimed at advancing the exploration of a potential United States central bank digital currency (CBDC). In an Aug. 31 Tweet from Digital Dollar Project (DDP), the organization said the new program would explore “technical and business implementation” questions revolving around a U.S. CBDC. The organization noted that the initial participants of…
The President of Paraguay, Mario Abdo has issued an executive veto on a recently approved cryptocurrency bill. Abdo’s veto decree states cryptocurrency mining is an “energy-intensive” and a low-value-added activity. The bill will now be returned to Congress to be approved again or to be rejected entirely. President of Paraguay Considers Cryptocurrency Mining an Energy Intensive Activity The…
Binance CEO Changpeng Zhao (CZ) has hit back at critics and conspiracy theorists who claim Binance to be a Chinese-based “criminal entity” that “secretly [belongs] in the pocket of the Chinese government.” CZ’s response to critics came from a Sept. 1 blog post via Binance, and stems from a Twitter spat with a former Washington Post journalist who asked him;…
