Babel Proposes New Stablecoin to Repay $766M to Creditors
admin • Babel Finance has proposed to create a new stablecoin, “Babel Recovery Coins”, to generate revenue and repay $766 million to its creditors. • The proposal came after the company…
SEC v. Ripple: Supreme Court Rules in Favor of Fair Notice Defense
• The US Supreme Court recently ruled in favor of Ripple's fair notice defense in the SEC vs. Ripple case. • The XRP community slightly optimistic, but XRP price lost…
Tencent Cloud Enters Web3, Strikes Deals with Avalanche, Ankr
• Tencent Cloud, the cloud service business of China's largest Internet company, announced its full entry into WEB3. • The firm has reinforced its Web3 speculations through foundations of future…
Peter Schiff Says Bitcoin Has No Value – Will Gold Be the Answer?
• Peter Schiff, an investment manager and bitcoin skeptic, said in a recent interview with Anthony Pompliano that bitcoin has no value. • Schiff believes this due to the lack…
Bitvavo to Receive 80% of DCG Debt in 2023
• Bitvavo expects to receive 80-100% of the $300 million debt owed to them by Digital Currency Group (DCG). • In January, DCG proposed a 70% payment to Bitvavo's debt…
Crypto Mining Ban in China: Little Impact on Bitcoin Hashrate
• China attempted to ban crypto mining in 2021, but the effects were only temporary. • Bitcoin’s hashrate has now hit a new all-time high, near 300 exahashes per second…
South Africa’s ARB Issues Rules for Crypto Advertising to Protect Investors
• The South African Advertising Regulatory Board (ARB) has released an updated code of advertising practice for crypto market participants. • Under the new guidelines, crypto businesses must send clear…
Crypto in 2023: Layer 1, Layer 2, Regulations, and Adoption
• In January, Binance Research released a report identifying the important themes for 2023 while providing a brief overview of 2022. • Ethereum completed "The Merge" — the move from…
Inclusivity of CBDC: MIT Report Highlights Potential Risks
• The Digital Currency Initiative (DCI) of the Massachusetts Institute of Technology (MIT) has released a report on the inclusivity of the retail central bank digital currency (CBDC) design. •…
Bill Ackman Defends Sam Bankman-Fried in FTX Bankruptcy Trial
• In November 2022, Sam Bankman-Fried filed for bankruptcy after FTX experienced lack of liquidity to satisfy customer withdrawal requirements. • Billionaire Bill Ackman recently hypothesized that Bankman-Fried may be…