The crypto community has poured in an impressive $54 million worth of crypto funds through Aid For Ukraine, aimed at supporting the country’s military efforts against Russia, the Ukrainian Deputy Prime Minister has revealed. The $54 million has been funneled in through the Ukrainian government-run initiative Aid For Ukraine, according to Ukraine’s Deputy Prime Minister
Month: August 2022
As the Ethereum Merge draws near, many are speculating on its economic effects. To provide a clearer view to those who anticipate the major upgrade, Lex Sokolin, the head economist at ConsenSys, shared his insights in an interview with Cointelegraph. The expert discussed the effect of the Merge on users, developers and businesses. Additionally, Sokolin
The European Central Bank (ECB) says the introduction of digital cash in the form of central bank digital currencies (CBDCs) appears to be the “only solution” that will guarantee a “smooth continuation” of the current monetary system. The comments were made as part of an ECB Working Paper Series, which was published in August, discussing monetary
Summary: The Ethereum Foundation released an update to debunk misinformation regarding the Merge. ETH’s switch from Proof-of-Work to Proof-of-Stake is scheduled to happen on or around September 15. Final tests and upgrades are in the works after a successful Merge on the Goerli public testnet. False statements have flooded the crypto community in the weeks
Bitcoin (BTC) dropped to weekly lows at the Aug. 17 Wall Street open as upcoming Federal Reserve comments unsettled risk assets. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar climbs as Fed minutes due Data from Cointelegraph Markets Pro and TradingView tracked a more than 2% daily decline in BTC/USD, which hit $23,325 on Bitstamp.
Bitcoin’s (BTC) bounce fizzled out near $24,500 on Aug. 17, indicating that the recovery still faces stiff resistance from the bears. On-chain monitoring resource Material Indicators said the ask liquidity on the Fire Charts was similar to prior local tops. Another reason for caution among crypto investors was that the recovery in the S&P 500
The Ethereum network’s long-awaited transition from proof-of-work to proof-of-stake is set to occur from Sept 15 to 16 and for the last year, traders and analysts have been discussing various outcomes for the upgrade and possible trading strategies. Let’s take a look at three options investors and traders have. Hodl ETH to earn the expected
The United States government’s sanctioning of the open-source code that makes up the Tornado Cash privacy protocol may be shocking, but it’s not surprising. America has been tightening its grip over the global financial system for decades ostensibly to cut down on bad behavior but also to project power abroad. Economic sanctions, like the ones
On August 16, the crypto lender Celsius Network has been approved by a bankruptcy court judge to sell bitcoin the company previously mined to continue funding specific operations. The following day, the company’s attorney detailed that Celsius has been offered cash injections, but the lawyer did not disclose who offered the funds and how much
High-profile security incidents continue to be a theme in 2022, with the Acala network joining a long list of stricken platforms to fall prey to exploits. The Acala USD (aUSD) token, which acts as a native stablecoin for the Polkadot and Kusama blockchains, saw its value plummet 99% after a misconfiguration of the iBTC/aUSD liquidity
Manchester United Fan Token (MUFC) is a dead coin and not related to the sports franchise, but one Elon Musk tweet was enough to revive it on Aug. 17. Also, I’m buying Manchester United ur welcome — Elon Musk (@elonmusk) August 17, 2022 Fake Man U token pumps after Elon Musk’s tweet To clarify, MUFC
Not even 24 hours after revealing a three-month cash flow forecast that threatens total exhaustion of funds, a New York judge allowed crypto lender Celsius Network to mine and sell Bitcoin (BTC) during its bankruptcy. Since July 2022, Celsius Networks stands at the crosshair of United States officials after reports of bankruptcy surfaced, which risks
Ethereum (ETH) is all set to transition to a proof-of-stake (PoS) network by Sept. 15-16 that would see an end to its current proof-of-work (PoW) chain. This event would eliminate PoW mining from the Ethereum ecosystem. In light of such a significant upgrade, the PoW proponents, especially miners, have decided to keep the PoW chain alive. EthereumPoW
Amid Colombia’s economic growth beat expectations in the second quarter, an official at the country’s tax and customs agency has hinted at some national digital currency plans. Luis Carlos Reyes, the head of the Colombian Tax and Customs National Authority, claimed that the government of newly inaugurated Colombian President Gustavo Petro will seek to create
Aave token holders have been asked to take part in an Aave Request for Comment (ARC) that would require them to “commit” to Ethereum’s proof-of-stake (PoS) consensus. The ARC, proposed on Aug. 16, comes in light of Ethereum’s upcoming transition to proof-of-stake. It calls for members to select the Ethereum Mainnet running under PoS consensus as
Summary: Ethereum’s upgrade to a Proof-of-Stake blockchain would see some operations halt temporarily for Coinbase users. The crypto exchange said new ETH deposits and withdrawals would pause during The Merge as a precautionary measure. A similar pause for new ERC-20 token withdrawals and deposits was also announced. Coinbase Prime Institutional customers might also experience delays.
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