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Ghana’s smart cards to enable offline functionality for E-Cedi
Offline capabilities are crucial in order to ensure that access to the E-Cedi is not hampered by power or internet barriers Ghana is looking to incorporate offline functionalities in its central bank digital currency (CBDC), the E-Cedi, in order to improve its accessibility to all sections of the society and promote financial inclusion in the country. Ghana’s E-Cedi, which is expected to pilot soon, marks a major milestone for the rising interest in CBDCs in the developing world. A CBDC is the digital representation of a country’s fiat currency that improves transparency, enhances the government’s ability to implement monetary policy and enables faster and more convenient cross-border transactions. China’s Digital Yuan is the first digital currency issued by the central bank of a maj...
Nexo and Celsius ordered to cease operations in New York
Cryptocurrency lending platforms are facing scrutiny from state regulators in the United States for operating without licences New York Attorney General Letitia James has issued a cease and desist to two cryptocurrency lending platforms. The platforms have been asked to stop operating in the state for failing to register as brokers with the state regulators. In a press release yesterday, Attorney General James ordered Nexo and Celsius to cease their unregistered and unlawful activities in New York immediately. The AG also ordered three other cryptocurrency platforms to provide information regarding their activities and products immediately. The AG said, “Cryptocurrency platforms must follow the law, just like everyone else, which is why we are now directing two crypto companies to sh...
Interactive Brokers launches crypto trading services
Cryptocurrencies are increasingly becoming available on more trading platforms as the market continues to grow Interactive Brokers has become the latest traditional brokerage platform to enter the cryptocurrency space. The firm announced the launch of its cryptocurrency trading services yesterday, following months of planning. In a press release yesterday, Interactive Brokers said Registered Investment Advisors (RIAs) could trade and custody a few cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). The RIAs can carry out these functions via Paxos Trust Company on behalf of their clients. According to the firm, the RIAs will get to manage their clients’ positions in cryptocurrencies alongside other financial assets like stocks, futures, op...
World leaders promised a green recovery. They got a brown one instead.
The failure to deliver on pledges made just last year presents a grim backdrop as nearly 200 countries prepare to gather in November in Glasgow, Scotland, for the latest round of global talks to rein in greenhouse gases and cope with problems already arising from climate change. That meeting comes while much of the world faces a global energy shortage as it emerges from the pandemic that has sent prices soaring, even prompting the climate-focused White House to ask oil executives how they might tamp down fuel costs. “The world missed an opportunity to have a green recovery,” said Alice Hill, who ran climate resilience efforts in former President Barack Obama’s National Security Council. “We hoped it would. But it didn’t.” Recent analyses conducted by think tanks, consulting firms and inter...
Polkadot unveils $770M development fund ahead of parachain auctions
Polkadot (DOT) founder Gavin Wood has unveiled a $777 million development fund ahead of the network’s parachain lease auctions. Wood tweeted on Oct. 17 that Polkadot’s treasury has allocated more than 18.9 million DOT (worth roughly $777 million at the time of writing) to a development fund that will be disbursed through community governance. Wood gave broad suggestions as to how the funds might be spent, stating the capital will be mobilized to realize the community’s vision for “building, improving, educating” Polkadot’s ecosystem, in addition to “anything else that the Polkadot governance believes valuable. According to Polkadot’s Wiki, the treasury funds can be spent if approved by the council, which votes on proposals put forward to them. The Polkadot council currently consists of 13 ...
Bakkt sheds more than 6% on first day of public trading
Bakkt ($BKKT), an institutional and retail-facing digital asset platform founded by Intercontinental Exchange, has suffered a drawdown of -6.4% after closing a volatile first day of trading as a publicly listed company. After launching on the New York Stock Exchange (NYSE) at $9.45 on the morning of Oct. 18, BKKT rose by roughly 3.3% up to $9.77 during its first 30 minutes of trading. However, traders quickly moved to take profits, causing prices to slump by -9.5% down to $8.84 followed by lunchtime. According to Bloomberg, BKKT was trading at $8.76 by the day’s close after having shed almost -7% from its opening. Bakkt went public via a merger deal with a special purpose acquisition company (SPAC), VPC Impact Acquisition Holdings on Oct. 15. Bakkt initially launched in 2018 as a cryptocur...
‘All bears will die’ — Bitcoin metric prepares to flip green for the first time in 6 months
A “favorite” Bitcoin (BTC) price signal could be about to turn bullish — and upside has always resulted, data shows. As noted by podcast host Preston Pysh on Oct. 18, the Long-Term & Short-Term Holder Realized Price Ratio (LTHSTH-RPR) looks primed to print a bull flag. Chart hints at return of the bulls It may sound wordy, but LTHSTH-RPR is one of the most accurate Bitcoin price indicators. Its creator, Bitcoin 2021 conference organizer Dylan LeClair, confirmed his own bullishness based on its readings in late September. “TLDR: The lower the Short-Term:Long-Term Realized Price Ratio goes the more bullish I will become,” he wrote in an explanatory Twitter thread. “In the end, all bears will die.” Bitcoin LTHSTH-RPR chart. Source: Preston Pysh/ Twitter Now, with the indicator...
Crypto lender Nexo confirms NYAG order, calls it a ‘mix up’
Cryptocurrency lending firm Nexo Financial denies the allegations of offering unregistered services to New Yorkers put forth by Attorney General Letitia James. Attorney General James directed two unnamed crypto lending companies to cease operations On Oct. 18, citing failure to register the business in New York and performing unlawful activities. Crypto lender Nexo is revealed to be one of the two companies to receive the cease and desist order from the Office of the Attorney General. Denying their involvement in unlawful operations, Nexo spokesperson said: “Nexo is not offering its Earn Product and Exchange in New York, so it makes little sense to be receiving a cease and desist order for something we are not offering in New York anyway.” According to Nexo, the allegations of operating an...
APRA AMCOS Revokes Denis Handlin’s Ted Albert Award
The PRO’s decision comes exactly a week after the Australian Broadcasting Corporation aired Facing The Music, a 46-minute report which explored allegations of systemic bullying, discrimination and misconduct at the label under Handlin’s leadership. More than 100 current and former Sony Music employees were interviewed for the report. The Ted Albert Award is one of the most prestigious honors in the Australia music industry, and is typically presented during the annual APRA Awards. Past recipients have included the late Michael Gudinski, Michael Chugg, Fifa Riccobono and Archie Roach. In revoking the accolade, APRA AMCOS said it is “committed to fostering a music industry that upholds a high level of professional respect and conduct, and does not condone any form of bullying...
Coldplay’s ‘Music of the Spheres’ Makes Fast Start In U.K. Chart Race
Coldplay should keep their U.K. chart streak alive with Music of the Spheres (Parlophone), which surges into the lead on the midweek survey. Music of the Spheres is already the fastest-seller of the year. The album shifts more than 81,000 units over the weekend, the OCC reports, besting Dave’s previous 2021 best, We’re All Alone In This Together, which amassed 74,000 chart sales in its opening week back in July. Spheres is on track to become the first album to notch more than 100,000 chart sales in a week since Ed Sheeran’s No. 6 Collaborations project shifted 125,000 in July 2019, more than two years ago. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat a...
The Richest 10% of Americans Now Own Nearly All Available U.S. Stocks
The wealthiest 10% of Americans own 89% of all of the stocks available in the U.S., according to CNBC, citing the latest data from the Federal Reserve. CNBC explained that the richest 1% of Americans gained over $6.5 trillion USD in corporate equities and mutual fund wealth during the pandemic. “The share of corporate equities and mutual funds owned by the top 10% reached the record high in the second quarter, while the bottom 90% of Americans held about 11% of individually held stocks, down from 12% before the pandemic,” the outlet said. This increase has led to the total wealth of the top 1% of Americans reaching a record 32%, with nearly 70% of their wealth gains over the last year and a half coming from stocks, CNBC said, adding that the top 10% saw their stocks grow in ...
Here’s why analysts are saying ‘No FOMO’ ahead of Bitcoin’s ETF launch
The day the crypto traders have long-awaited is almost here. At the opening bell on Oct. 19, a ProShares futures-based BTC ETF is scheduled to launch and analysts are predicting that additional ETFs will rollout over the coming week. Data from Cointelegraph Markets Pro and TradingView shows that an early morning attempt by bears to drop the price back below $60,000 was well defended by traders and at the time of writing their is a tug-o-war at the $61,000 to $62,000 zone. BTC/USDT 1-day chart. Source: TradingView While many have predicted that the ETF launch is the fuel needed to push BTC to the $100,000 mark, not all analysts agree and some warn that the event could be another “buy the rumor, sell the news” event. A higher low would be “normal” price action One tra...
