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  • Market Cap: $2,277,186,411,386.15
  • 24h Vol: $53,815,246,980.00
  • BTC Dominance: 56.58%

News Bytes – 2

hong-kong-professor:-china’s-crypto-mining-ban-shifts-businesses-to-us

Hong Kong Professor: China’s Crypto Mining Ban Shifts Businesses to US

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Professor Wang Yang, vice president for institutional advancement and chair professor at the Department of Mathematics at the Hong Kong University of Science and Technology (HKUST), criticized China’s cryptocurrency mining ban during a panel discussion in Hong Kong last week. He called the decision “very unwise” because it shifted businesses to the U.S., boosting American […]

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bahamas-to-mandate-banks-to-distribute-central-bank-digital-currency

Bahamas to Mandate Banks to Distribute Central Bank Digital Currency

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The Bahamas, the first country to issue a central bank digital currency (CBDC) called the Sand Dollar, is preparing regulations to mandate commercial banks to provide access to the e-money to boost adoption. Central Bank Governor John Rolle indicated that these regulations would be implemented within two years. “We’ve begun to signal that to our

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BIS Report Warns of Rising Public Debt Risks to Global Economies

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The Bank for International Settlements (BIS) Annual Economic Report 2024, published on June 30, highlights the significant risks posed by rising public debt levels across both advanced and emerging market economies. The report stresses that without fiscal consolidation, debt trajectories will remain unsustainable, threatening macroeconomic stability. As interest rates rise, refinancing needs and higher debt

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Malicious Crypto Wallet App Submitted to Apple Store Leads to Fraud Charges

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The U.S. Department of Justice (DOJ) announced on Wednesday that Nikita Andreevich Sklyuev, also known as Valeriy Dorojkin, has been extradited from Ukraine and arraigned in Buffalo, NY, on charges of wire fraud and fraudulent use of an unauthorized access device. Sklyuev is accused of submitting a malicious cryptocurrency wallet app, “EOSIO Wallet Explorer,” to

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north-carolina-passes-bill-to-block-state-participation-in-federal-cbdc-testing

North Carolina Passes Bill to Block State Participation in Federal CBDC Testing

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The General Assembly of the U.S. state of North Carolina has approved a bill that prevents the state from participating in the Federal Reserve’s testing of a central bank digital currency (CBDC). The General Assembly is North Carolina’s legislative body, comprising two chambers: the House of Representatives and the Senate. The bill passed with significant

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yield-app-suspends-operations-ahead-of-liquidation

Yield App Suspends Operations Ahead of Liquidation

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Yield App, a platform for earning interest, buying, and swapping cryptocurrencies, announced on social media platform X Friday the suspension of all activities in preparation for liquidation proceedings. The Seychelles-based company halted operations due to significant portfolio losses from third-party hedge fund managers on the failed cryptocurrency exchange FTX, which are currently under litigation. To

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fake-crypto-fund-operator-pleads-guilty-to-defrauding-investors

Fake Crypto Fund Operator Pleads Guilty to Defrauding Investors

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Michael Joseph McElhiney, age 37 and formerly of Spokane, Washington, has pleaded guilty to wire fraud, the U.S. Department of Justice (DOJ) announced on Wednesday. Between March 4, 2021, and Sept. 10, 2022, McElhiney defrauded investors by falsely claiming to operate a cryptocurrency investment fund called Mac Blockchain Solutions. He contacted victims in person, via

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asian-currencies-hit-19-month-low:-devere-ceo-predicts-continued-weakness

Asian Currencies Hit 19-Month Low: Devere CEO Predicts Continued Weakness

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Asian currencies have reached their lowest levels in over 19 months as the U.S. dollar strengthens, driven by expectations of prolonged elevated U.S. interest rates. The Bloomberg Asia Dollar Index fell by 0.1% on Thursday, marking its lowest point since November 2022. Significant declines in the Philippine peso, Indian rupee, and South Korean won are

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india’s-digital-rupee-usage-drops-drastically-after-initial-surge

India’s Digital Rupee Usage Drops Drastically After Initial Surge

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India’s central bank digital currency (CBDC), the digital rupee, has experienced a significant decline in usage, decreasing to a tenth of its peak in December 2023, according to sources involved in the pilot project. The Reserve Bank of India (RBI) initially reached 1 million daily retail transactions with the digital rupee by incentivizing banks and

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iran-officially-unveils-central-bank-digital-currency-project

Iran Officially Unveils Central Bank Digital Currency Project

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Iran officially unveiled its central bank digital currency (CBDC) on Sunday during a ceremony attended by Central Bank of Iran (CBI) Governor Mohammad Reza Farzin and chief executives of several major banks. This digital currency, issued electronically by the central bank, aims to streamline transactions within the country’s banking system. A pilot project will commence

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