Tag Archives: AA News

California’s state regulator – Fair Political Practices Commission (FPPC) – will consider allowing the use of cryptocurrencies for political campaign donations four years after banning them. Potential Law Amendments During its most recent Commission Meeting, the FPPC disclosed it had arranged a “pre-notice discussion” where it will contemplate whether to enable digital asset political donations in the state. The conversation will be held later this week (May 19): “The...

Billy Markus, co-founder of the popular memecoin Dogecoin (DOGE), said the great majority of cryptocurrency projects in the industry are nothing but scams and garbage with no real value to offer. Markus: 95% of Crypto Projects are Scams In a recent tweet, the Dogecoin creator argued that 95% of cryptocurrencies are worthless as they have succeeded in destroying the reputation of the entire industry. According to Markus, top traditional financial players and most mainstream...

Vitalik Buterin – co-founder of Ethereum – outlined some of his conflicting realizations and beliefs around cryptocurrency on Monday. He detailed the way that his idealistic vision for how Ethereum should grow – and what it should become – is failing to match reality. Comparing Ethereum and Bitcoin The programmer – who has never hesitated to criticize Bitcoin in the past – began his lengthy Twitter thread with a display of admiration for the primary crypto network. While...

China outlawed Bitcoin mining last May. Exactly a year later, the country has re-emerged as the leading venue for mining operations. A new study revealed underground mining activity in the country had catapulted it to second place globally in terms of installed mining capacity. China’s Apparent Comeback Cambridge Centre for Alternative Finance (CCAF) reported the surprising resurgence and further stated that China currently dominates with a 21.11% market share just behind the...

Jack Dorsey was not pleased with FTX CEO Sam Bankman Fried (SBF)’s recent criticisms of Bitcoin’s viability as a payments system. The Block Head confronted him yesterday over his failure to acknowledge the lightning network and provided defense for the necessity of mining. SBF’s Interview The conflict began when SBF responded to some backlash over his comments about Bitcoin in an interview with the Financial Times. While he stood by his claim that Bitcoin cannot sustain high...

With the crash of TerraUSD —the largest algorithmic stablecoin in the ecosystem— and the de-pegging of other stablecoins like Stasis, DEI (not to be confused with DAI and even Tether), financial institutions like the European Central Bank, used this weakness in their favor and started promoting their new CBDCs. On May 16, Italian economist and Executive Board member of the European Central Bank (ECB), Fabio Panetta, said in a lecture at the National College of Ireland (NCI)...

Amidst growing uncertainty caused by the bearish run across most cryptocurrencies over the past few weeks, Binance – the leading exchange in terms of volume – is looking to heavily shore up its defenses in case of any possible inquiries from regulatory bodies. However, this could also be an indicator of the company planning to enhance efforts at securing an even bigger market share across EMEA and APJ markets. Binance is currently not facing any lawsuits and has recently been...

Two of the world’s major investment banks, Goldman Sachs and Barclays, recently participated in a $70 million Series A funding round for Elwood Technologies, the crypto trading platform founded by British hedge fund billionaire Alan Howard. Goldman Sachs and Barclays Invest in Elwood According to a Sunday report by the Financial Times, this funding round marked the first time that Elwood Technologies has sourced outside financing and brought the company’s valuation to $500...

Ben Bernanke – former chairman of the U.S. Federal Reserve – does not believe Bitcoin or other cryptocurrencies can succeed as an alternative money. He claims their prices are too volatile to serve as a practical means of exchange and lack the underlying use cases to serve as stores of value. Bitcoin is for Criminals, Says Bernanke In a recent interview with CNBC’s Andrew Sorkin, Bernanke claimed that cryptocurrencies have been successful as a “speculative asset”. However, as...

Terra co-founder Do Kwon has unveiled a detailed plan to hard fork Terra and revive the network’s ecosystem. It will involve abandoning its algorithmic stablecoin, and launching a new cryptocurrency to replace its old governance token, LUNA. The proposal is a follow-up to Kwon’s informal plan he posted last week, in which he admitted that UST was a failed stablecoin, and that the blockchain needed a fresh restart. It roughly reflects his original plan to distribute...