Blockchain Financial News

Bitcoin (BTC) miners are preparing for another difficulty adjustment this week, as the computational power required to mine new coins reaches its highest level ever.

Half a year after lead developer Alexey Pertsev was arrested in the Netherlands, the Tornado Cash coin mixer has been rebuilt and redeployed as Privacy Pools.

The Ethereum price is unchanged in the past 24 hours, with its move to $1,567 over the weekend meaning that it has fallen by 4% in a week and by 6% in the last 30 days. However, it remains up by 31% since the start of 2023, with its $1,550 support level holding strong in the past few days, suggesting that it won't be returning to the lows of last year.

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Iran is moving forward with its central bank digital currency (CBDC) plans, completing preliminary research for the launch of a potential digital rial.

The Hedera network is still one of the layer-1 blockchains that have been rapidly gaining popularity. While this was a big factor in HBAR’s bullish bounce since the start of the year, it has not been enough to prevent the loss of a third of its YTD gains.

Bitcoin [BTC] Ordinals have been a topic of discussion since its launch. Interestingly, Ordinals recently crossed the 300,000 mark. At press time, there were a total of 302,076 inscriptions. 

Digital asset investment firms poured $2.7 billion into decentralized finance projects in 2022, up 190% from 2021, while investments into centralized finance projects went the other way — falling 73% to $4.3 billion over the same timeframe.

Pakistan Banks’ Association (PBA) — a group of 31 traditional banks operating in Pakistan — signed off on the development of a blockchain-based platform for Know Your Customer (KYC) initiatives. 

Blockchain, Crypto, or Decentralized Finance (DeFi) before 2008, but today we live in a world where these path breaking technologies are playing a crucial role in shaping the future. Also known as Distributed Ledger Technology (DLT), blockchain is a record of transactions that cannot be altered, deleted, or destroyed. In other words, the digital information on a blockchain can be recorded and distributed but never edited. We all know that blockchain was launched as a distributed ledger for Bitcoin transactions, but it turned out to be more than just that. Since 2014, blockchain has given birth to many new inventions beyond Bitcoin. Since then, Blockchain use cases have exploded with the launch of new cryptos, non-fungible tokens (NFTs), smart contracts, and DeFi applications. The innovation factor with blockchain is its guarantee of fidelity and security of data records; it builds faith without the backing of a third party. These features make it perfect for finance. Let’s explore more about how blockchain is re-inventing finance. Blockchain vs banking

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American rapper and actor Snoop Dogg has been revealed as one of the co-founders of a Web3-powered live streaming app called “Shiller" — adding to yet another Web3 partnership for the well-known hip-hop artist. 

Crypto legislation in Australia could be dragged out past 2024 and beyond, with the government seemingly wanting to take its time in order to get a full picture of the industry, internal documents from the government have revealed. 

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Disclaimer: The text below is an advertorial article that is not part of  Cryptonews.com  editorial content.

[content][quote]Big Story[/quote][title]Web3 Platform Few and Far Raises $10.5 Million in Funding Round[/title][body]British Virgin Islands-based digital Collectibles web3 platform Few and Far on Friday announced that it has raised $10.5 million in a funding round led by Pantera Capital, a blockchain investment firm. The funding round also included other prominent investors such as Cypher Capital, Huobi Ventures, Hypersphere, Metaweb, Mantis Partners, and K5 Global. According to the company, the new funds will be used to expand the platform's capabilities, enhance user experience, and increase the number of web3 developers. IP owners are also expected to benefit from the platform, which provides an all-inclusive suite of developer tools to carry out everything related to next-generation digital collectibles. Details here.[/body][/content]

The Chairman of the SEC, Gary Gensler, recently claimed in an interview that all cryptocurrencies, except Bitcoin, fall under the agency's jurisdiction. However, his comments have been disputed by lawyers for the cryptocurrency industry who argue that the SEC must prove its case in court for each token individually before it can claim jurisdiction over them.

The Financial Stability Board (FSB), the International Monetary Fund (IMF), and the Bank for International Settlements (BIS) have been tasked with establishing standards for a global cryptocurrency regulatory framework, according to an announcement by the Group of 20 (G20) on February 25th, 2023. The G20, comprised of the world's 20 largest economies, has recognized the need for a coordinated international effort to address the risks associated with cryptocurrencies and establish clear regulatory guidelines for their use.

AVAX Daily, a popular Twitter handle that posts updates related to the Avalanche [AVAX] blockchain, recently published the network’s weekly report.

In the Russia-Ukraine war, both sides of the conflict have been leveraging cryptocurrencies to achieve the upper hand. 

Electric vehicles are currently all the rage at the moment. Recent reports put EV sales for the European bloc at 12.1% for the past year. However, as the market for these cars grows, several underlying issues have now been unearthed.