Governments pushing for CBDCs smell blood in Terra Classic’s struggles
Advocates for central bank digital currencies argue their inherent stability supersedes any benefits so-called stablecoins, algorithmic or otherwise, could offer.
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Tezos, generative NFTs take spotlight at Art Basel, Hong Kong
The Tezos blockchain showcased the evolving relationship between art, technology and culture at a three-day interactive exhibition, The Ever-Evolving World of Art, at Art Basel, Hong Kong, which ended Sunday. See related article: How Asia’s generative NFT art is reshaping the global creative culture Fast facts The event featured NFT works from 22 international digital artists,…
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China to issue free digital yuan to boost locked down economy
Shenzhen, Guangzhou, and Xiong’an New Area announced they are distributing free digital yuan “red packets” to boost local consumption amid China’s economic slowdown fueled by mass Covid lockdowns. See related article: Covid-19, postponed Asian Games to push digital yuan into the slow lane? Fast facts See related article: What I learned from my role in…
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Terra 2.0 new LUNA is down 70% since restart
The new LUNA was trading under US$6 on Monday morning Asia time, after peaking at US$18.87 shortly following the launch of the Terra 2.0 blockchain on Saturday, according to data from CoinGecko. See related article: Winning back the trust of the Terra community a tall order for Do Kwon: Experts Fast facts LUNA Classic (LUNC)…
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NFTs based on late Qing dynasty painter Wu Changshuo’s artwork sell out
Non-fungible tokens (NFTs) featuring Chinese late Qing dynasty painter Wu Changshuo’s artwork debuted on Tencent’s Huanhe NFT platform on Thursday with all 28,000 copies selling out immediately after the drop, reflecting a still robust market for such assets in China. See related article: Chinese stock image agency VCG tests NFT marketplace Fast facts The Wu…
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RBI wants its CBDC to bring ‘little or no disruption’
The Reserve Bank of India (RBI) is aligning its central bank digital currency (CBDC) design with monetary policy objectives and financial stability, the central bank said in its annual report. See related article: Report: Stablecoins, CBDCs may not resolve financial inclusion, international remittance challenges Fast facts Finance Minister Nirmala Sitharaman announced in February the RBI…
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Iagon’s Ethereum-Cardano bridge launches for USDC transfers
The world’s second-largest stablecoin USDC and ERC-20 IAG tokens can now be bridged from Ethereum to the Cardano network through Iagon’s cross-chain bridge powered by the Milkomeda sidechain. See related article: Wormhole to bridge Polkadot, Kusama to Ethereum, Solana Fast facts A cross-chain bridge allows for crypto assets of one blockchain to be converted for…
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Winning back the trust of the Terra community a tall order for Do Kwon: Experts
Do Kwon’s proposal to create a new Terra network chain is set to go live this weekend — what does Terra 2.0 entail and will it successfully win back its following?
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Move-to-earn app STEPN to limit service in China
STEPN on Friday said it would stop providing Global Positioning System (GPS) and Internet Protocol (IP) location services to users in mainland China starting mid-July. See related article: Chinese runners offer substitute running to earn STEPN’s GMT for commission Fast facts STEPN said the move was made to abide by Chinese regulations and that it…
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ARK Investment, 21Shares take another try at a spot Bitcoin ETF
Veteran investor Cathie Wood’s ARK Investment Management and Swiss investment product issuer 21Shares are trying their luck again at getting a spot Bitcoin exchange-traded fund (ETF) approved. See related article: SEC comes around on Bitcoin ETFs Fast facts Cboe BZX Exchange, Inc. is seeking the Securities and Exchange Commission’s (SEC) approval to a proposed rule…