The Federal Reserve said on Wednesday that it would raise interest rates by a quarter of a percent (or 25 basis points), pushing forward with its campaign to quell inflation despite two of the largest bank failures in U.S. history in the past two weeks. It raised interest rates to a target range of 4.75% to 5%, mirroring expectations in…
A new era of messaging applications will soon cross the chasm of Web3 mass adoption. Web3 messaging applications will become an integral part of the blockchain ecosystem, allowing users to communicate with each other and interact with decentralized applications (DApps) and the protocols themselves in a secure, direct, decentralized manner. This editorial will discuss the benefits and challenges of Web3…
“Not your keys, not your crypto,” is one of the defining catchphrases of crypto—and it’s only become more prominent over the past year, as the risks of keeping crypto on centralized exchanges were thrown into sharp relief by the collapse of FTX. As user deposits on the doomed exchange vanished, Google searches for “self-custody” reached their highest-ever levels. With self-custody,…
Republican Senator Ted Cruz proposed legislation late Tuesday to block a central bank digital currency (CBDC) from being issued in the United States, joining a growing chorus of prominent GOP politicians pushing back against the idea. In a statement Tuesday, the Texas lawmaker said that the U.S. government had “no authority to unilaterally establish a central bank currency.” CBDCs are…
According to the U.S. Federal Reserve, the central bank’s Fednow payment service will start operating in July, and participants will be certified in April to leverage the Fednow Pilot Program. Ken Montgomery, the Fednow program executive, is urging American financial institutions to make preparations to join the central bank’s new payment service. Economist Richard Werner, however, believes the timing of…
Bitcoin (BTC) has been sustaining above the $25,000 level for the past few days, increasing the likelihood that the bear market may have ended. Generally, in the initial stages of a new bull phase, several analysts remain in a state of disbelief and expect the resumption of the downtrend. Another group of traders continue to wait for the dip to…
Robby Yung, chief executive officer of metaverse ecosystem developer Animoca Brands, seemed to suggest that despite the recent attempts to debank crypto and protests on the streets of Paris, confidence in the space was undettered. Speaking to Cointelegraph on March 22 at Paris Blockchain Week, Yung said the local government had provided a “warm embrace” for crypto and blockchain enthusiasts amid…
Cybersecurity services provider Kaspersky has released a report on risks associated with cryptocurrency use. The report titled “Crypto Threats 2023” focused on the United States and uncovered some surprisingly poor user security habits. Kaspersky surveyed 2,000 American adults in October 2022 and found that 24% of respondents overall owned cryptocurrency or digital assets. Ownership ranged from 36% in the 25-44…
Xrp moved to its highest point since November, as markets reacted to news suggesting a verdict could be near in Ripple’s case with the Securities and Exchange Commission (SEC). Cardano was also higher on Wednesday, hitting a one-month high. XRP rose to its highest point since November, as markets continued to react to the latest news surrounding Ripple’s case with…
The crypto world is waiting for high-quality, breakout games to showcase the benefits of blockchain. Could the answer be to take an almost-there Web2 game and give it a Web3 twist? That’s what Immutable Games is trying. Today, the game publisher and company behind Ethereum scaling network Immutable X announced that it’s working with game studio Bazooka Tango to adapt…
