Tag Archives: AA News

It would appear that the U.S. Congress is starting to become interested – or concerned – with El Salvador’s adoption of Bitcoin as legal tender. Senators James Risch, Bob Menendez, and Bill Cassidy have introduced a bill titled the  ‘‘Accountability for Cryptocurrency in El Salvador Act’’ (or ‘ACES’ act) to monitor the effects of the nation’s new law on itself and the United States. Keeping an Eye on El Salvador The bill was introduced back on February 18th, but entered the...

Today, the Central Bank of Honduras (CBH) assured that for now, the country has no intention of following in the footsteps of El Salvador, extinguishing the FOMO sparked by rumors about the possible adoption of bitcoin as a legal tender in the Latin American country. According to the statement, The Central American country maintains a neutral position towards Bitcoin and cryptocurrencies in general. It has no intention of changing it for now. They stressed that Bitcoin is...

Interest in Web3 continues to increase as more companies race to invest in the next big thing. Nexo – a well-known crypto participant – is the latest to jump on the bandwagon. Nexo – a regulated and amongst the leading digital asset service providers – revealed today that they are launching a new fund aimed at investing in Web3-focused projects. The initiative is called Nexo Ventures and launches with an initial goal of investing $150 million. The key areas that the new arm...

Web 3 and blockchain infrastructure provider Coinbase Cloud has announced the launch of a suite of blockchain solutions and services for the growing Avalanche ecosystem. Coinbase Cloud revealed running a public validator on Avalanche that enables delegators to stake their AVAX tokens. They contribute to the growth and security of the network by verifying transactions, participating in consensus, and adding blocks. Delegators, on the other hand, can contribute to validators by...

Retail and institutional investors will have to wait further for the $1 billion Bitcoin Bonds as El Salvador has postponed its planned offering. Amidst geopolitical turmoil, the country’s Finance Minister Alejandro Zelaya said they would wait for favorable conditions in the financial market, and the hold-up be could be as late as September. Unfavorable Market Conditions The El Salvadorean central bank was previously scheduled to launch the long-awaited Bitcoin Bonds between...

About $50 million has been robbed from a Solana-native stablecoin protocol using a ‘fake account’ exploit. This apparently allowed the hacker to mint an unlimited amount of CASH, which the team behind the stablecoin has confessed to. As explained by samczun of Paradigm on Twitter, CashioApp requires users to deposit collateral in order to mint more CASH, its stablecoin token. The cross-program invocation (CPI) transfers tokens from one’s account to the account of the...

Yuga Labs – the owners of the two most popular NFT collections – has announced the completion of a $450 million fundraise to develop its NFT metaverse project. This brings the company’s valuation up to $4 billion. News of the raise emerged in a company press release on Tuesday, which revealed a16z as the leader of the funding round. Andreesen Horowitz has become deeply involved with investing in all things web 3 and appears to have followed through on Bored Ape Yacht Club...

The Advertising Standard Authority (ASA) intensified its negative stance against crypto-related companies. It warned such entities not to encourage individuals to purchase digital assets with credit cards or swap their pensions for coins like bitcoin. The ASA’s Latest Warning The British authorities and financial regulators are known for their harsh stance against the cryptocurrency sector. Bank of England’s Governor Andrew Bailey, for example, argued that digital assets...

FTX Ventures has invested $100 million in the public-traded banking app – Dave – which also announced forging a “strategic partnership” with West Realm Shires Services, the operator of FTX US. As part of the deal, the US crypto trading arm of billionaire Sam Bankman-Fried’s exchange FTX will serve as Dave’s exclusive partner for cryptocurrencies and explore ways to introduce such payments into the banking app’s platform. The Investment According to the official press release,...

Japanese cryptocurrency exchange, Coincheck has announced plans to go public in the United States by entering into a definitive merger agreement with blank-check firm Thunder Bridge Capital Partners IV Inc. The Merger According to the official press release, the merger deal is worth $1.25 billion. Upon closing, the combined company will receive proceeds of $237 million from the cash held in the special-purpose acquisition company’s (SPAC) trust, assuming there are no...