It isn’t just the polarizing British political figure Nigel Farage who’s been ‘debanked’ by NatWest; a former customer of the UK bank claims to have had their account closed for crypto trading. Decrypt spoke to one member of the “NatWest CLOSED down my ACCOUNT” Facebook group, which is preparing to flood the bank with data requests from customers who have…
House Republicans are still trying to push ahead with a bill to regulate stablecoins and their issuers after hitting a snag in the form of sharp criticisms of the bill by Democrats, who see the bill as too favorable to the crypto industry. In his opening statement, Rep. Patrick McHenry (R-NC), the chairman of the House Financial Services Committee and…
Stablecoins cannot be compared to bank deposits in terms of risk, argues a new policy paper authored by former Federal Reserve Board analyst Brendan Malone on behalf of technology investment firm Paradigm. The document explores the risks stablecoins pose to the financial system, noting that current legislative proposals in the United States could incorporate crypto payment instruments into existing banking and securities…
What’s Going to Stop All the DeFi Hacks? ‘Standards,’ Says OpenZepplin Security Architect OpenZeppelin’s security solutions architect Michael Lewellen sat down with Decrypt to discuss how the industry can become a little safer for users at this year’s EthCC Paris. The key? Introducing security standards across the industry so folks know what an audit actually means and where risks lie,…
United States House Financial Services Committee chair Patrick McHenry has pointed a finger at the Biden administration for the lack of bipartisan agreement on a stablecoin bill. In a July 27 hearing, Rep. McHenry said the version of the Clarity for Payment Stablecoins Act, H.R. 4766, being considered for markup was not based on negotiations between himself and ranking member…
This story comes from GG. Your Web3 Gaming Power-Up Discover GG EF Defense, a mobile tower defense strategy game on iOS and Android, will be expanded and relaunched on the Ethereum scaling network Immutable zkEVM. Singapore-based developer Weracle announced the move today in partnership with Web3 game publisher Immutable. EF Defense hails from blockchain game studio Weracle, which was founded…
Bitcoin (BTC) ate away at the prior day’s gains on July 27 as United States macroeconomic data produced a muted reaction. BTC/USD 1-hour chart. Source: TradingView Analyst warns of BTC price dip Data from Cointelegraph Markets Pro and TradingView showed BTC price strength waning after a brief push to $29,680 into the daily close. The largest cryptocurrency had offered a…
Sustainable Bitcoin mining platform Sazmining is expanding into South America with plans to leverage Paraguay’s Itaipu Dam, the startup announced Thursday. The firm’s facility is expected to come online in September and will contain mining rigs purchased by Sazmining’s customers. The platform enables people to purchase Bitcoin mining rigs, which Sazmining maintains and powers with 100% renewable energy. The Itaipu…
Computer-generated nonfungible tokens (NFTs) created by Hungarian artist Vera Molnár in collaboration with Martin Grasser sold out during Sotheby’s Dutch auction for 631 Ether (ETH), or around $1.2 million, in less than one hour. Molnár’s Themes and Variations #1 sold for 19.84 ETH | Source: Sotheby’s According to the July 26 announcement, the “Themes and Variation” collection features 500 collectibles…
Crypto market’s volatility and potential for profit and loss The crypto market is known for its high volatility, which refers to the rapid and unpredictable price fluctuations of cryptocurrencies. Market sentiment, recent news events, regulation changes, technological advancements, and general market demand and supply are just a few factors contributing to this volatility. Although volatility offers opportunities for gains, it…
