Laos is reportedly expected to earn approximately $190 million in 2022 from bitcoin mining activities in the country. The new revenue source would contribute to the $2.8 billion total domestic revenue projected for 2022, the Lao Minister of Finance said. The government reportedly plans on employing the new revenue stream’s profits on increasing officials’ allowances, paying off debts, and pandemic-related…
The presence of FOMO is pretty much the only predictable characteristic of the incredibly volatile crypto market. Every time a coin or a token moons, the community gets divided into two groups: those that managed to profit from the price spike and those who wish they did. FOMO drives many people to make rash decisions, such as investing in a…
The career risk surrounding cryptocurrency is shifting to money managers who dont have exposure to digital assets as opposed to those who are already invested, highlighting a dramatic shift in institutional acceptance of Bitcoin (BTC) and decentralized finance, according to Bloombergs senior commodity strategist Mike McGlone. The November edition of Bloombergs Crypto Outlook described 2021 as just another foundation year…
In brief Russia has yet again been implicated in a ransomware scandal. The Biden administration has focused on ransomware as a national security threat for months. In Moscows city center, Russias tallest skyscraperknown as Vostokis facilitating business for hackers, cybercriminals, and money launderers. According to Bloomberg, experts have successfully linked at least four companies that are either based or operating…
American investment bank Goldman Sachs, a backer of major cryptocurrency firm Circle, is strengthening its tokenization efforts by partnering with the blockchain startup Digital Asset. The partnership enables Goldman Sachs to use Daml, a development framework created by Digital Asset to allow financial institutions to build and execute agreements on blockchain, the company announced Wednesday. One of core Digital Assets…
Compound Finance is just one of the latest victims of DeFi hacking incidents in 2021. On Sept. 30, its errant token distribution bug within the Proposal 062 exposed a flaw in which $70 million$85 million in excess COMP tokens were wrongly distributed to users. Yet, an extra $65 million was placed in a vulnerable vault a few days later, resulting…
On Nov. 1, the United States Presidents Working Group on Financial Markets (PWG) released its long-anticipated report and policy recommendations on stablecoins. The documents main focus is on prudential risks that payment stablecoins or those meant to maintain a stable value against a reference fiat currency could pose to users and financial stability. The PWGs key message is that while…
The Nasdaq-listed crypto exchange Coinbase is now letting customers borrow cash up to $1 million using bitcoin as collateral. The company charges 8% APR but there is no credit check. The exchange said that the bitcoin used as collateral “remains safely held by Coinbase,” emphasizing, “It’s not lent out or used for any other purpose.” Customers Can Borrow up to…
The Shiba Inu (SHIB) cryptocurrency has shot to prominence over the past month, briefly overtaking rival dog-themed meme coin Dogecoin in market cap. Now, one SHIB holder who’s seen their $8,000 initial investment swell to over $5 billion worth of the cryptocurrency has moved a massive $2.9 billion worth of their holdings between wallets. According to Ethereum block explorer Etherscan,…
Private blockchains provide users with the absolute privacy they desire. Private blockchains (which are permissioned settings) establish rules governing who can see and write to the chain, in contrast to public, permissionless blockchains. There is a clear hierarchy of control in these systems; hence, they are not decentralized. However, they are dispersed because many nodes still keep a copy of…
