FIVE Financial News

The sanctions on the cryptocurrency mixing protocol, Tornado Cash, by the US Treasury Department are causing more internal wranglings for the platform than projected.

Bitcoin has not been able to leverage the broader market’s bullishness this time around. But it has been able to retain the support at the $24k level. Evidently, the market is shifting its focus from altcoins.

Short distance train travel in Germany has surged over the past few months - partly thanks to the country’s ultra-cheap summer rail pass.

American watchdog SEC took a recent hit as the battle against Ripple moved into an interesting phase this week.

On 10 August, Coinbase, one of the world’s leading exchanges, announced the inclusion of NEAR on its listing roadmap. This suggested that the altcoin is now among the assets that the exchange plans to make available on its platform.

Following an announcement dated 8 August, the Office of Foreign Assets Control (OFAC) barred U.S. residents from using Tornado Cash. By doing so, the agency added it to its Specially Designated Nationals list.

The Ethereum Merge is about five weeks away and as the count down to the main event narrows, the phrase, “buy the rumor, sell the news” is expected to play out.

Crypto investors have been hit hard this year by hacks and scams. One reason is that cybercriminals have found a particularly useful avenue to reach them: bridges.

Ripple’s lawsuit against the regulatory watchdog, U.S. Securities and Exchange Commission (SEC) might have taken an offensive approach after the former recorded a recent win.

Americans are expecting less inflation in coming years, according to a recent survey by the Federal Reserve Bank of New York.

With a rising wedge forming on the daily chart, holders of  BNB should know that the fifth-largest cryptocurrency is set to embark on a bear run. After a 6% price rally over the last seven days, BNB is the only coin among the top five cryptocurrencies to register any gains. Over the aforementioned period, Bitcoin fell by 17%, with Ethereum seeing an uptick of 0.06%.

While domestic digital payment usage surged during the pandemic, the EIU expects this to slow over the next five years, largely owing to strong base effects. However, customers are increasingly demanding a similar revolution in cross-border payments, which are still mostly facilitated by the "old-fashioned" and "cumbersome" correspondent banking network. At the centre of this is Swift, which the paper notes has "encountered criticism for its relative inflexibility and lack of transparency" and seen a decline in the number of correspondent banking relationships over the last decade. More recently, Russian has been kicked off the Swift network, a move which could see the country and others such as China and India double down on their nascent Swift alternatives. Nevertheless, the paper says "setting up and scaling a full-fledged alternative bank-messaging system would be expensive and time consuming. It would also have limited real-world impact, given the prevalence of dollar-denominated cross-border flows. Swift will remain the dominant network, as long as countries and lenders come together to improve the Belgian network." Separately, cross-border payments will be disrupted by government-backed efforts to link systems. In Asia, moves are already underway to do this, allowing travellers across the region to purchase goods and services by scanning QR codes. As well as challenging Swift, disrupting cross-border payments will mean adopting emerging technologies, including blockchain, APIs and tokenisation, says the EIU.

BEIJING — Data show that Taiwan depends more on China for trade than it does on the U.S., even if U.S. House Speaker Nancy Pelosi threw her weight behind Taiwan this week in a high-profile visit.

SÃO PAULO—Brazil’s central bank raised its benchmark interest rate as expected Wednesday, the 12th consecutive time, and said it would consider another rate increase at its next meeting in September.

Crypto exchange ZB.com has fallen victim to a possible hack as $4.8 million was withdrawn from its hot wallet, according to security firm PeckSheild.

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Market participants spent 963,227 ETH (approximately $2.7b) on NFT minting on the Ethereum blockchain during H1 (first half of a calendar year) of 2022.

TRON has raised the bar in recent weeks with the overturn in the market sentiment. The network performed well in the previous week with certain on-chain data signaling growing traders’ optimism.

In its latest ‘Adoption Update,’ Chainlink informed its users of a series of integrations of some of its products between 25 and 31 July.

The United States Securities and Exchange Commission (SEC) has charged 11 individuals for creating and promoting a fraudulent crypto pyramid scheme and Ponzi scheme. The authority published a press release on August 1, saying that the $300 million crypto pyramid scheme involved perpetrators from several countries. The complaint was filed in the United States District Court in the Northern District of Illinois.

To combat limited liquidity in its pool, Convex Finance, a DeFi protocol built on Curve Finance, commenced the weekly unlocking of vote-locked CVX tokens on 30 June. The weekly unlocks are scheduled to span 16 weeks (16 unlocks) and see to the unlocking of 52.2 million CVX tokens.