What is Cryptocurrency!
By definition, “A cryptocurrency (or crypto currency) is digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrency is a kind of digital currency, virtual currency or alternative currency.” Cryptocurrency and digital assets were created/birthed with the intention of being decentralized, however there are many cryptocurrencies that are not. The control of each cryptocurrency works through distributed ledger technology, via the blockchain, which serves as a public financial transaction database. The first ever released was Bitcoin, first released as open-source software in 2009. Since then, over 4,000 altcoin (alternative coin) variants of bitcoin have been created.
BITCOIN NEWS
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Federal Reserve confirms July launch for FedNow instant payment service
As we reported in August of 2019, the Federal Reserve has confirmed their plan to launch their “FedNow” service in July of 2023. @federalreserve @frbservices announce July launch for the FedNow Service: https://t.co/a7kPqxkS7Q — Federal Reserve (@federalreserve) March 15, 2023 The Fed said it will “begin the formal certification of participants” during the first […] More
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US Federal Regulators Announce Depositors Will Be Made Whole and Savings Are SAFE
As reported, New York State regulators took over Signature Bank today, which is the second financial institution to have issues in less than a week. The FDIC and Treasury assured depositors at both that they would be made whole in an attempt to stem the growing crisis. Signature was a banker to crypto clients. It […] More
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Binance Will convert $1 Billion BUSD to Native cryptos including Bitcoin and Ethereum
Crypto exchange Binance said it will convert $1 billion worth of Binance USD (BUSD) to bitcoin (BTC), ether (ETH), BNB coin (BNB) and other tokens to support the market. Given the changes in stable coins and banks, #Binance will convert the remaining of the $1 billion Industry Recovery Initiative funds from BUSD to native crypto, […] More
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Is Cardano’s Minswap (MIN) the most Undervalued Cryptocurrency of 2023?
What is Minswap? Minswap, a decentralized exchange (DEX) built on the Cardano (ADA) blockchain and is currently undervalued at $0.02854 per token. While there are several reasons why Minswap is undervalued, two key factors stand out: its strong development team and the growing popularity of decentralized finance (DeFi) applications. The team’s technical expertise is reflected […] More
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Binance Pauses USDC Withdrawals and Sees $3 Billion In Outflows
Binance, the world’s largest cryptocurrency exchange, said Tuesday it is pausing withdrawals of the stablecoin USDC while it completes a token swap involving the asset. Withdrawals in other tokens tied to the value of the dollar–specifically tether and BUSD, a stablecoin developed by Binance and blockchain-focused firm Paxos–are unaffected. Changpeng Zhao, Binance’s chief executive, added in a […] More
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Minswap (MIN): The DEX (Decentralized Exchange) the Blockchain Cryptocurrency Space Needs?
Minswap (MIN) is an open sourced and audited AMM DEX (decentralized exchange), built on Cardano (ADA). More
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ByBit Exchange Suspends User’s Withdraws and Demands Invasive Video of Deposit Wallet
In a recent post a reddit user has posted about their onerous encounter with the ByBit cryptocurrency exchange. The user posted about their encounter stating they deposited over 10,000 Cardano (ADA) which is now stuck on ByBit, due to ByBiy admins suspending their withdraws and It has still yet to be determined why ByBit feels […] More
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Self Tapes Studio The Creation Station Studios Launches Cardano (ADA) NFTs in Hollywood
A real use case for the Cardano (ADA) blockchain has launched in Los Angeles/Hollywood, California for actors, actresses, comedians, and entertainers, with the option to earn a substantial portion of an already existing company’s revenue. More
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How to Claim Millions of FREE Cardano (ADA) Tokens on DripDropz
the Cardano (ADA) ecosystem is starting to see its ecosystem come alive as Dapps begin to go live on testnets and mainnets. Amongst these newly emerging platforms is one called DripDropz, which allows users to claim free tokens when using the platform. Users simply register for a free account using their emails and receive 100 […] More
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Chinese Court Confirms Bitcoin as ‘Virtual Commodity’ that Cannot Be allowed to Impact China’s financial market
Bitcoin is protected as a virtual asset under Chinese law, but shall not be deemed as currency or financial product, as a Shanghai court decided in Li et. al. v. Yan et. al. (2019). Though the courts can protect Bitcoin as a “commodity,” they will not allow Bitcoin to impact China’s financial market. More
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Bitcoin price decreases on China FUD which Still Allows Individuals to Hold Cryptocurrency
China has reiterated its ban on financial institutions and payment companies providing services related to cryptocurrency transactions, and warned investors against speculative crypto trading. However, China has not barred individuals from holding cryptocurrencies. Additionally, some Mainland Chinese courts have recognized Bitcoin as a “virtual commodity” or “virtual asset” (see (2019) Hu 01 Min Zhong No. 13689) More
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U.S. Treasury Calls for Financial Institutions to Share Account Information for Taxation
The Treasury Department on Thursday announced that it is taking steps to crack down on cryptocurrency markets and transactions, and said it will require any transfer worth $10,000 or more to be reported to the Internal Revenue Service, and seeks to leverage information financial institutions already have on customers. More
