Business

‘Primitive’ stablecoin lacks mechanisms that maintain fiat stability: BIS

[ad_1] Stablecoins lack crucial mechanisms that guarantee money market stability in fiat, and an operational model that gave regulatory control to a central bank would be superior to private stablecoin, a study released by the Bank for International Settlements (BIS) found. The authors used a “money view” of stablecoin and an analogy with onshore and offshore USD settlement to probe the weaknesses of stablecoin settlement mechanisms. Per the study:“In both Eurodollar
ALTCOIN

3 metrics DeFi traders can watch in order to spot the next crypto bull market

[ad_1] The decentralized finance (DeFi) market has been one of the most exciting and volatile sectors in the crypto outside of Bitcoin (BTC). In 2020, the DeFi sector experienced a bull market that saw the total value locked (TVL) in decentralized finance protocols surge from $1 billion to over $100 billion. However, the DeFi market has also been prone to significant corrections. In 2021, the DeFi market experienced a correction
Business

Sam Altman ousted from OpenAI, CTO Mira Murati named interim CEO

[ad_1] ChatGPT developer OpenAI has removed founder Sam Altman from its CEO position, according to a November 17 blog post. Chief technology officer Mira Murati will be promoted to interim CEO. According to the post, the Board of Directors engaged in a “deliberative review process,” which resulted in the conclusion that Altman “was not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities.”Altman could
Business

Uniswap’s Android wallet app, Cboe to launch BTC, ETH margin futures, and more

[ad_1] As the final weeks of 2023 approach, it’s fair to say that one of the most dominant trends and drivers of crypto companies’ strategies over the past months can be summed up in a single word: licenses. In a tight regulatory environment, getting the green light from regulators has been crucial for companies, particularly during the crypto winter. Some countries have taken a stand by developing a crypto-friendly environment. For
Business

Bitcoin fees skyrocket on ETF hype

[ad_1] The prospect of a spot Bitcoin (BTC) exchange-traded fund (ETF) being approved soon in the United States has increased demand for the major cryptocurrency, leading to a surge in transaction fees.The Bitcoin blockchain reached $11.6 million in fees paid on Nov. 16 according to statistics from CryptoFees. At the time of writing, YCharts data shows that the average transaction fee is $18.69, up 113% from the previous day and
BLOCKCHAIN

Sushi to test Bitcoin swaps and Opyn DeFi protocol founders cave to CFTC pressure: Finance Redefined

[ad_1] Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.A new DeFi report has highlighted that a significant amount of crypto lost to exploits was due to traditional Web2 flaws and security issues, such as centralization of information, which makes it easier to exploit.Decentralized exchange (DEX) platform Sushi is set to
Business

Bitcoin traders’ BTC price dip targets now include $30.9K bottom

[ad_1] Bitcoin (BTC) circled $36,000 after the Nov. 16 Wall Street open as analysis hoped for a deeper BTC price comedown.BTC/USD 1-day chart. Source: TradingViewBitcoin traders map out likely bottomsData from Cointelegraph Markets Pro and TradingView followed a retracement from intraday highs of $36,600.Having failed to establish a breakout beyond 18-month highs during the week, Bitcoin was uninspiring for market participants, some of whom hoped to see a fresh correction
BLOCKCHAIN

ENS developers urge Unstoppable Domains to drop patents or face lawsuit

[ad_1] Founder and lead developer of Ethereum Name Service (ENS) Nick Johnson is urging blockchain domains company Unstoppable Domains to drop a recently awarded patent or face a lawsuit, according to an open letter shared on X (formerly Twitter). In January, Unstoppable Domains was granted its first patent, US11558344, which claims that Braden River Pezeshki, Matthew Everett Gould and Bogdan Gusiev are the inventors of a technology that uses blockchain technology
Business

Tech firm Republic taps Avalanche for profit-sharing investment note

[ad_1] Neo-investment and technology firm Republic plans to issue a blockchain-based security token that will pay dividends to retail investors from profits across its broad portfolio of investment holdings.The Republic Note is a profit-sharing digital asset that will be launched on the Avalanche blockchain, which accrues profits generated from Republic’s wide-ranging investment portfolio and services. Republic has attracted over three million investors and has deployed over $2.6 billion into various
BLOCKCHAIN

How to backup your crypto wallet private keys

[ad_1] In the rapidly evolving world of cryptocurrencies, it is critical to secure one’s digital assets. A crucial element of crypto security is storing a backup of private keys. Private keys are the keys to one’s crypto kingdom, and losing them can cause an irreversible loss of money. This article will explain the importance of private keys, the risks they pose and the different ways to safely backup keys.What are private