Our weekly roundup of news from East Asia curates the industry’s most important developments. SUI rises to glory as Sun sets sights on it On Apr. 30, cryptocurrency exchange Binance unveiled two LaunchPools for the then-up-and-coming listing of Sui tokens. As a Layer-1 blockchain created by Mysten Labs, which in turn was founded by former
Month: May 2023
There’s a narrative that’s grown up around Ethereum’s two most important co-founders, Joe Lubin and Vitalik Buterin, to explain how they went in different directions almost a decade ago. It suggests the pair fell out over the blockchain’s future direction, with the idealistic 20-year-old Buterin determined to turn Ethereum into a nonprofit foundation, while Lubin
Greg Gianforte, the Governor of Montana, has signed into law a bill largely preventing local governments in the state from passing laws prohibiting cryptocurrency mining. According to records with the Montana legislature, Gianforte signed SB178 into law on May 2 after the bill had passed both the state House and Senate. The legislation effectively enshrines
Bitcoin (BTC) slid below $29,000 around the May 4 Wall Street open as United States equities showed jitters over the resurgent banking crisis. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Too much all at once” for U.S. banks Data from Cointelegraph Markets Pro and TradingView showed BTC/USD losing ground as the S&P 500 shed 0.7%.
Bitcoin’s network has been putting miners through the wringer lately, with five straight difficulty increases that had them on edge. However, on May 4, 2023, at block height 788,256, the network difficulty level took a dip, dropping by 1.45% and bringing the overall difficulty down to 48.01 trillion for the next two weeks. Bitcoin Difficulty
Summary: Smart contracts for Curve Finance’s crvUSD stablecoin went live on Ethereum’s mainnet, the team shared via a Twitter update on May 3. “This is not finalized yet because UI also needs to be deployed. Stay tuned!” said crvUSD developers promising a user interface for the stablecoin. crvUSD enters a highly competitive Ethereum stablecoin market
For the past 14 days, cryptocurrency markets have been trading within an unusually tight 7.1% range. In other words, investors are unwilling to place new bets until there’s additional regulatory clarity, especially in the United States. The total crypto market capitalization fell by 1% to $1.2 trillion over the seven days ending May 4, primarily
The United Kingdom’s Competition and Markets Authority (CMA) has officially stepped onto the artificial intelligence (AI) scene after it announced an examination of the impact of the technology on consumers and the economy. On May 4, the regulator said it will be looking at the development and deployment of foundation models - applications like OpenAI’s
Bitcoin (BTC) reclaimed $29,000 overnight into May 4 as the United States banking crisis risked spawning new victims. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Gold, Bitcoin benefit from U.S. banking mayhem Data from Cointelegraph Markets Pro and TradingView tracked a swift mood change for BTC/USD, which hit $29,242 on Bitstamp. The pair had sunk
A new Cosmos-based blockchain called “Tenet” will use liquid staking coins from other networks to secure its transactions, potentially allowing the new network to inherit the security of older ones, according to a May 3 announcement from the developers. The network is currently available as a testnet and will launch a mainnet version as soon
International Monetary Fund (IMF) Managing Director Kristalina Georgieva expects “more vulnerabilities” in the U.S. banking sector amid a growing de-dollarization trend worldwide. “There has been a gradual shift away from the dollar,” the IMF chief acknowledged. U.S. Banking Crisis Continues The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, talked about the U.S.
Decentralized finance (DeFi) protocol Curve Finance has launched its native algorithmic U.S. dollar-pegged stablecoin, dubbed “crvUSD” on the Ethereum mainnet — minting more than $22 million worth of the crvUSD so far. According to data from blockchain explorer Etherscan, the contract has minted more than $22 million worth of crvUSD in the past 8 hours,
The United States securities regulator is holding off from ratifying the definition of the term “digital assets” in rules that govern reporting disclosures for hedge and private equity funds, despite proposing to do so some nine months ago. On May 3 the Securities and Exchange Commission (SEC) published amendments to Form PF — a form
Bitcoin (BTC) hit daily lows at the May 3 Wall Street open as markets counted down the hours to the Federal Reserve interest rate decision. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Fed set to hike into banking crisis Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $28,152 on Bitstamp, down 2.2% from
Layer-1 Ethereum Virtual Machine (EVM) blockchain platform Flare has integrated its application programming interface (API) portal on Google Cloud Marketplace, onboarding a number of significant blockchain APIs to the ecosystem. The integration of Google Cloud Marketplace will provide high-integrity blockchain data from Flare nodes and connected chain nodes to a large pool of developers and
Following a quarter-point increase in the federal funds rate by the Federal Reserve on Wednesday, precious metals such as silver and gold experienced a surge in value against the U.S. dollar, with gains ranging from 0.87% to 1.18%. Gold, in particular, has been on an upward trajectory, having risen by 3.4% in the past month