Montenegro intends to create and issue its own digital currency with help from U.S.-based crypto company Ripple. The Southeast European nation, which adopted the euro unilaterally, is moving to realize the plan despite the eurozone developing a digital version of the common currency. Monetary Authority of Montenegro to Cooperate With Ripple on ‘National Stablecoin’ Project The Central Bank of Montenegro…
The existence of the Web3 economy in Africa began with cryptocurrency. Using blockchain technology in Africa came with a lot of transformation in terms of transparency and control over finances. The Web3 economy in Africa is still gaining more traction with a DeFi-based financial inclusion. Fonbnk, the Web3 on-ramp that allows Africans to obtain cryptocurrency assets by exchanging their airtime…
Stock trading is coming to Twitter. And, reportedly, crypto trading. Via a new partnership with eToro, users can now make use of eToro’s market charts on a range of financial investments, simply by searching for the relevant “cashtag,” usually by putting a “$” sign in front of the ticker, like “$TSLA” for Tesla stock. A chart then appears, reflecting the…
Blockchain security firm PeckShield recently detected a hack that allowed the exploiter to mint over 1 quadrillion Yearn Tether (yUSDT) from $10,000 in the latest decentralized finance (DeFi) hack. According to the security firm, the hacker then swapped the yUSDT to other stablecoins, allowing them to take hold of $11.6 million worth of stablecoins. This includes 61,000 Pax Dollar (USDP),…
Members of the Ethereum community responded to the latest upgrades to the Ethereum mainnet. Source: https://cointelegraph.com/public/index.php/news/ethereum-shapella-upgrade-community-celebrates-as-update-goes-live-on-mainnet
Following the network’s latest Shanghai upgrade, Ethereum is soaring. The second-largest cryptocurrency by market capitalization is currently up almost 6% over the past 24 hours, with ETH trading hands at around $1,980, per CoinGecko. Liquidation data from Coinglass also suggest that bearish traders were proven wrong too, with Ethereum leading the pack at more than $44 million trades liquidated over…
The bill, seeking to enshrine crypto miners’ rights in Montana, United States, successfully passed the third reading in the state’s House of Representatives. Now, the only thing that is required for it to become law is the Governor’s signature. Bill number 178, prohibiting local authorities from obstructing the crypto mining operations, was voted in during the third reading by 64…
The much-awaited Shapella update on Ethereum has gone live, paving the way for new features such as the unstaking of Ether (ETH). Members of the community celebrated with various responses to the newest update in the Ethereum ecosystem. Shapella is a term used by the community that blends together “Shanghai” and “Capella,” the upgrades that happened simultaneously. The hard fork…
The Aave V1 and an older version of Yearn Finance protocol were hacked for $11.2 million on April 13 due to a vulnerability in Yearn’s USDT token, yUSDT. Aave is one of DeFi’s oldest lending and borrowing protocols, letting users earn yield for depositing various cryptocurrencies. Yearn Finance is another popular DeFi protocol that aggregates various yield opportunities from around…
When inflation in advanced economies is tamed, real interest rates are likely to drop to pre-pandemic levels, the latest International Monetary Fund (IMF) blog post has said. According to the authors of the blog post, the transition to a “cleaner economy in a budget-neutral way” could result in lower rates in the medium term. Recent Interest Rate Hikes Temporary Interest…
