Binance pushes out USDC in aggressive move to boost its own stablecoin
Top blockchain and crypto news: USDC gets the boot from Binance. MicroStrategy looks for Lightning strikes. STEPN heads to Hong Kong.
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Markets: Bitcoin stays under US$19,000, Ether biggest loser among top 10 crypto
Bitcoin fell further in Wednesday afternoon trading in Asia, while Ether lost the most ground among the top 10 cryptocurrencies by market capitalization. Ethereum Classic fell more than 15%. See related article: Markets: Bitcoin slumps below US$19,000, Ether drops despite Merge progress Fast facts Bitcoin dropped 5.6% in the past 24 hours to US$18,801.4 at…
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China has seen blockchain’s future and it doesn’t include cryptocurrencies
China’s Blockchain-based Service Network wears two hats in building blockchains: one for business in China and one for everywhere else, but it doesn’t see a role for crypto in either.
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Crypto could pose ‘major’ risk to S.Korea’s financial stability, think tank says
The country’s growing ties to crypto could expose its financial sector to volatility and ‘damage its credibility,’ a researcher says.
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S.Korea to set up securities market for crypto tokens
South Korea’s top financial regulator announced Tuesday a plan to open a separate digital securities market similar to the KOSPI (Korea Composite Stock Price Index), in a move to institutionalize and promote cryptocurrencies. See related article: South Korea’s taxman keeps circling crypto – airdrops look to be the next target Fast facts The planned digital…
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RBI asks 4 state-run banks to test digital rupee, in talks with fintech: report
India’s Reserve Bank of India has asked four state-run banks to test its central bank digital currency (CBDC), due for launch this financial year, even as the central bank seeks a ban on cryptocurrency trading in the country. See related article: RBI is causing crypto hesitancy among Indian banks Fast facts RBI has chosen the…
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New UK PM, finance minister have previously supported crypto, blockchain
Britain’s new Prime Minister Liz Truss has appointed Kwasi Kwarteng, former head of the U.K.’s department for business, energy and industrial strategy, as the new finance minister, charging him with decisions that will impact British and global crypto markets. See related article: Bank of England calls for greater crypto regulation Fast facts Former Finance Minister…
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Slowdown in crypto interest to continue for rest of the year: KPMG
A slowdown in crypto investment — particularly in firms offering coins, tokens and non-fungible tokens (NFTs) — will continue in the second half of the current year, according to a new report by global audit and consulting firm KPMG. See related article: Siloed regulatory efforts unlikely to help bring oversight to highly decentralized crypto industry…
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Crypto influencer collects, then returns, US$100K from investors in fake scheme
Crypto influencer Fatman Terra pitched his own fake investment scheme on Twitter — and found willing investors instantly — in an attempt to educate people about scams in the industry. See related article: Terra’s Mirror Protocol fixes exploit that drained more than US$2 million Fast facts “In two hours, I received over one hundred DMs,”…
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Markets: Bitcoin slumps below US$19,000, Ether drops despite Merge progress
Bitcoin dipped under US$19,000 to the lowest price since mid-June in an across-the-market slump for the top 10 cryptocurrencies by market capitalization in Wednesday morning trading in Asia. Ether also lost ground even though it began one of its last required upgrades on Tuesday before the network Merge expected later this month. See related article:…