Author: Donald Munn
El Salvador continues its policy of buying Bitcoin to remedy its exorbitant public debt. Bitcoin tourism in El Salvador The adoption of Bitcoin in El Salvador has contributed to the growth of tourism in the country El Salvador is the Latin American state that has contributed most to the spread of Bitcoin. Here, in fact, BTC is treated in the same way as a fiat currency and there is a payments system based precisely on crypto that has led “the Salvadoran experience” to become a true tourist destination. Tourism itself accounts for 80% of cash flows and in turn contributes…
Galoy, the open source platform powering El Salvador’s Bitcoin Beach Wallet, has announced the launch of a new synthetic stablecoin pegged to the dollar. New stablecoin issued by El Salvador coming soon The new stablecoin will be pegged to the dollar and supported by a Bitcoin reserve On Wednesday, Galoy, the El Salvador banking platform that launched the Bitcoin Beach Wallet in November 2020 in the town of El Zonte in El Salvador, announced the launch of a new stablecoin pegged to the dollar. The new stablecoin would be a synthetic dollar collateralized by Bitcoin and pegged to the value…
Switzerland is by far one of the countries with the most crypto companies in the world. For this reason, the current bear market could have hit the Swiss crypto industry hard. Instead, it turns out the problems are not so big as to send the local industry into crisis. Crypto companies in Switzerland weather the current bear market quite well Crypto companies operating in Switzerland have so far been resilient to the current market crash A survey was recently conducted among various companies in French-speaking Switzerland, which revealed that the current unfavorable situation has not had a deleterious effect on…
Robinhood had announced at the beginning of the year a layoff of 9% of staff, which will now be followed by an additional 23% in defections. New staff cuts at Robinhood Robinhood’s human resources suffer further cuts The cryptocurrency trading platform, among others, has a complicated relationship with its employees, who must not have taken well a yet another email announcing staff layoffs. With an email signed directly by Vlad Tenev, CEO of the company, employees were faced with the announcement of yet another tranche of layoffs. At the beginning of the year, the company had informed its staff in…
A number of Solana wallets were attacked tonight, including one of the main ones in the ecosystem, Phantom. Widespread Solana private key compromise – attacker is stealing both native tokens (SOL) and SPL tokens (USDC)– affecting wallets that have been inactive for >6 months– both Phantom & Slope wallets reportedly drained pic.twitter.com/AkZXOGLD0Q — foobar (@0xfoobar) August 3, 2022 In total, officially, 7,767 wallets were hacked, from which about $5 million were allegedly stolen. Big news – @Solana hack! In an unknown way scammers are withdrawing $SOL from the wallets of ordinary users right now! The amount of stolen funds currently…
Revolut, the fintech app that boasts as many as 20 million customers worldwide, today announced the addition of 22 new tokens, reaching more than 80 supported cryptocurrencies. Revolut expands number of supported crypto for trading Industry-leading fintech app implements 22 new cryptocurrencies The new cryptocurrencies announced today are available to all customers in the UK and EU, and include the tokens APECOIN, REQ, ETC, CLV, FORTH, AVAX, SAND, GALA, AXS, JASMY, ENS, DASH, FLOW, IMX, CRO, IDEX, REN, SPELL, PERP, BICO, COTI, and finally MLN. During 2021, the number of cryptocurrencies available in Revolut‘s app had already increased 6-fold, from…
In Britain, the All Party Parliamentary Group (APPG) for the cryptoand digital asset sector has officially announced the launch of an investigation into the UK’s growing crypto industry. A group of UK MPs working on crypto and CBDCs Work is underway on improving the regulatory framework for cryptocurrencies and CBDC APPGs are informal groups of MPs from all parties without official status within Parliament. They are, however, run by MPs, so they often act in support of the work of actual parliamentary groups. The APPG’s investigation into cryptocurrencies will focus on the sector’s regulatory approach, the potential of CBDCs, the…
The number of unique active addresses on Dogecoin’s blockchain has increased by 97% in the past two months. Unique addresses on the Dogecoin blockchain increase Unique addresses active on the Dogecoin blockchain increased by 97% The lowest peak in 2022 was on 21 May when they fell well below 50,000, while the highest peak occurred on 28 July with more than 98,000. On the other hand, the number of daily transactions also increased, from 18,000 on 21 May to more than 87,000 on 20 July. It is worth adding that in the days following these two peaks the numbers dropped…
A few days ago Stuart Alderoty, counsel for Ripple, published an interesting article on the importance of fair cryptocurrency laws. Rather than providing regulatory clarity through rulemaking, the SEC is bullying crypto markets by filing unproven allegations masquerading as regulation. In my latest op-ed, I outline the urgent need for sensible crypto legislation from Washington. https://t.co/BiY5rkCdEM — Stuart Alderoty (@s_alderoty) July 27, 2022 Ripple is in a lawsuit against the SEC, which accuses it of selling XRP as an unregistered security in the past, so their attorney’s statements can help understand how US authorities intend to regulate cryptocurrencies. The current…
Yet another exploit has been found by hackers, this time draining nearly $200 million from the cross-chain bridge Nomad. Nomad bridge suffers hacker attack Nomad is a cross-chain bridge solution that allows moving tokens between different blockchains by wrapping them via smart contracts. Unfortunately for them and the many users affected, someone was able to find an exploit and use it to their advantage to drain around $190 million dollars Nomad’s Twitter account tweeted the following: “We are aware of the incident involving the Nomad token bridge. We are currently investigating and will provide updates when we have them”. We…