English News
Brazil Central Bank Crafting Crypto Regulation Plan, Expected by Year’s End
(Crypto News)-22/05/2024Brazil’s central bank unveiled a multi-phase plan to regulate crypto and virtual asset service providers on Monday. It aims to finalize the regulatory proposals by the end of this year.These regulations will establish rules that verify and enforce greater transparency around the potential benefits and risks of these investments, the bank said. It said it opted for […]
Russian Crypto Mining Sector Could Grow ‘by 20-40%’ in 2024 – Report
(Crypto News)-22/05/2024The Russian crypto mining industry could grow “by between 20% and 40%” in 2024, a new report has claimed.Per the media outlet Overclockers, the claims came from industry insiders in a report from BitRiver.The latter is Russia’s biggest crypto mining player. The firm is one of the driving forces behind a recent legislative push that could result in […]
American Bankers Association Urges House Leaders to Block Fed’s CBDC Plans
(Crypto News)-22/05/2024The American Bankers Association (ABA) on Monday urged House leaders to back a bill that would stop the Federal Reserve from creating a CBDC for individuals and using it for monetary policy tools.Congressman Tom Emmer (R-Minn.) introduced the CBDC Anti-Surveillance State Act (H.R. 5403) in Sept. 2023. The bill, which has gained support from 165 cosponsors, is expected to […]
Saudi economic ‘overheating’ fears emerge as constraint
(The Business Times)-15/05/2024SAUDI Arabia wants to avoid sending the economy into overdrive as it channels investments with the goal of pivoting the nation away from oil dependency.Finance Minister Mohammed Al-Jadaan said on Tuesday (May 14) that while his country’s massive investments are helping to grow the non-oil economy, the kingdom needs to be careful about […]
BNP Paribas CEO dampens hopes for European bank M&A revival
(Reuters)-15/05/2024The boss of the euro zone’s most valuable lender BNP Paribas (BNPP.PA), opens new tab on Tuesday played down expectations for a revival of M&A activity in European banking, saying the economics of cross-border and even some domestic deals rarely made sense.Jean-Laurent Bonnafe’s comments to BNP’s annual shareholder meeting comes after Spain’s BBVA (BBVA.MC), opens new tab last week launched a […]
OpenAI’s latest upgrade essentially lets users livestream with ChatGPT
(Coin Telegraph)-15/05/2024ChatGPT creator OpenAI has announced its latest AI model, GPT-4o, a chattier, more humanlike AI chatbot, which can interpret a user’s audio and video and respond in real time.A series of demos released by the firm shows GPT-4 Omni helping potential users with things like interview preparation — by making sure they look presentable for the […]
Coinbase recovers after system-wide outage, but user withdrawals remain offline
(Coin Telegraph)-15/05/2024Coinbase, the world’s second-largest exchange by trading volume, suffered a major outage on May 14.Coinbase announced a system-wide outage lasting three hours at 4:19 am UTC. The exchange eventually managed to fully recover by 7:34 am UTC, according to its status page.While the exact reason behind the outage remains unknown, Coinbase said it will continue investigating the […]
Deutsche Bank joins Singapore’s asset tokenization project
(Coin Telegraph)-15/05/2024Deutsche Bank, a German multinational investment bank, is collaborating with Singapore’s central bank on asset tokenization.Deutsche Bank has joined the Monetary Authority of Singapore’s (MAS) Project Guardian, which focuses on asset tokenization in wholesale funding markets and decentralized finance (DeFi) applications.As part of the collaboration, Deutsche Bank will test an open architecture and interoperable blockchain platform to […]
Uniswap CEO warns US President to reverse course on crypto policies
(Coin Telegraph)-15/05/2024Hayden Adams, the founder and CEO of decentralized exchange Uniswap, called on United States President Joe Biden to consider how voters think about crypto when they enter ballot boxes in November.In a May 12 X post, Adams claimed there was “not much time” for President Biden to change the perception many crypto-focused voters had of his […]
Digital Euro Use Won’t Push Out Swedish Krona: Central Bank
(Coin Telegraph)-15/05/2024Adopting a potential digital euro won’t displace the Swedish krona, Sweden’s central bank said.In a staff memo published Tuesday, the Sveriges Riksbank indicated it sees potential benefits for Sweden in the digital euro. It highlighted the possibility of a more robust and competitive payment system.The bank added that there may be a small shift away […]
Saudi Arabia’s $100 Billion AI Fund Will Divest China If US Asks
(Bloomberg)-08/05/2024The head of Saudi Arabia’s new investment fund for semiconductor and artificial intelligence technology said the country would divest from China if it were asked to do so by the US.“So far the requests have been to keep manufacturing and supply chains completely separate, but if the partnerships with China would become a problem for […]
US banks report weaker loan demand, Fed survey says
(Reuters)-08/05/2024U.S. banks reported renewed weakening in demand for industrial loans and a decline in household demand for credit in the first quarter of the year, according to a Federal Reserve survey of senior loan officers published on Monday.Fed officials had the survey results in hand last week when they decided to keep the policy rate […]
Bitcoin distribution ‘danger zone’ over, analysts say
(Coin Telegraph)-08/05/2024Bitcoin’s price rose above the $65,000 mark on May 6 as analysts argued that the post-halving “danger zone” may be over, with more BTC upside on the way.Bitcoin out of the post-halving “danger zone” — analystBitcoin’s post-halving danger zone is a three-week window after the halving, historically associated with downside volatility occurring below the reaccumulation range.With Bitcoin rising above […]
Revolut debuts dedicated crypto exchange for UK users
(Coin Telegraph)-08/05/2024Fintech company and global neobank Revolut has made a big move into the cryptocurrency sphere by quietly introducing a specialized crypto trading platform for retail customers in the United Kingdom.Revolut unveiled Revolut X on May 7, targeting a specific set of customers. The platform is designed to rival major cryptocurrency exchanges by offering easy […]
How long does it take to mine 1 Bitcoin?
(Coin Telegraph)-08/05/20241-What is Bitcoin mining?Bitcoin mining is the network’s method of transaction validation. This process is also how new Bitcoin are added to the existing supply.There are currently around 19.5 million Bitcoin in circulation and the cryptocurrency is programmed to have a total supply of 21 million. The final 1.5 million or so are locked away, […]
Crypto options desk QCP Capital wins Abu Dhabi license: Report
(Coin Telegraph)-08/05/2024QCP Capital, a cryptocurrency options trading platform, received initial regulatory approval to operate in Abu Dhabi, becoming the latest prominent crypto firm to expand in the region.The digital asset options trading desk received in-principle approval for regulated digital asset activities from the Financial Services Regulatory Authority of Abu Dhabi Global Markets (ADGM), according to a May […]