The United States Government Accountability Office, or GAO, has released its preliminary review of the failures of Silicon Valley Bank and Signature Bank — and included exposure to deposits from the cryptocurrency industry. In a report released on May 11, the GAO said “poor governance and unsatisfactory risk-management practices” led to the collapse of Signature Bank in March. The GAO…
Coinbase’s top lawyer issued an apology Thursday to the PepeCoin (PEPE) community, capping off a frenzied 24-hour period during which the memecoin’s diehard fan base instigated a vocal campaign against the major crypto exchange. Fans and holders of PEPE were upset at Coinbase for describing the original Pepe the Frog meme—on which the popular coin is based—as having been “co-opted…
press release PRESS RELEASE. EMCO Network, a pioneering Defi project, is set to revolutionize the digital and financial landscapes by leveraging its unique blend of real-world experience in precious metals and artificial intelligence sectors. Addressing the challenges faced by users from low socio-economic backgrounds, EMCO Network aims to provide a novel platform to tap into their digital identities, generating financial…
Investing in cryptocurrencies is widely known to be associated with risk, given the crypto market’s volatility, regulatory dilemmas and high-profile incidents of hacks, scams and fraudulent activities. According to Chainalysis’ midyear report on cryptocurrency-related crimes in 2022, approximately $1.9 billion worth of cryptocurrency was stolen in various hacking incidents and fraudulent activities compared to under $1.2 billion at the same…
Just months after Solana-themed brick and mortar stores in New York and Miami closed, Solana Labs has announced new office space. The company that works on the blockchain tech behind the 10th largest cryptocurrency by market cap will today open a 25,000-square-foot, 4-story community office space in Lower Manhattan, according to a Thursday announcement. Those working on Solana projects will…
One of the most misunderstood aspects of non-fungible token (NFT) ownership has steadily turned into one of its biggest draws. While some are solely focused on the media the NFTs represent, others are exploring what it means to be the rightful owner of that piece of media. Within most NFT collections, there is a fixed number of NFTs for people…
intermediate As we know, blockchain technology is being actively implemented in different spheres of the real world — from finances (DeFi, banking) to the fashion and agriculture sectors. The healthcare industry is facing many challenges, including rising costs, data breaches, and lack of interoperability. Blockchain technology has the potential to address these issues by providing a secure and decentralized way…
Authorities in Montenegro are moving forward with charges against Do Kwon and his former aide Han Chang-joon as lawyers for the Terra co-founder requested conditions for bail. According to a May 11 notice from Montenegro’s court system, lawyers representing Kwon and Chang-joon proposed they be confined to home arrest after providing 400,000 euros — roughly $436,000 at the time of…
Even though Bitcoin’s fees have recently been through the roof and some developers are vexed over Ordinals, one part of the community is doing well: miners. Daily revenue for those mining the largest cryptocurrency by market cap is now reaching highs of $40 million, according to Glassnode data. Why? Because the demand for Ordinals is causing Bitcoin network congestion. Ordinals…
The Bank for International Settlements (BIS) is actively exploring opportunities for offline payments involving a central bank digital currency, or CBDC. On May 11, the BIS Innovation Hub Nordic Centre published a comprehensive handbook exploring how CBDCs could work for offline payments. The guide is written in collaboration with technical consultancy Consult Hyperion, addressing objectives for resilience, cash resemblance, accessibility…
