Decentralized protocols, finance philosophy, and investing.
A report by dappGambl based on data provided by NFT Scan and CoinMarketCap showed that out of 73,257 NFT collections the researchers looked at, 69,795 of them, or slightly over 95%, had a market cap of zero ether. By their estimates, almost 23 million people hold these worthless assets. “This Read more…
The collapse in cryptocurrency prices last year forced a procession of major firms into bankruptcy, triggering a government crackdown and erasing the savings of millions of inexperienced investors. But for a small group of corporate turnaround specialists, crypto’s implosion has become a financial bonanza. Lawyers, accountants, consultants, cryptocurrency analysts and Read more…
Cryptocurrency trading volume declined in August to the lowest level of the year, another sign of waning investor interest since the collapse of digital asset prices from all-time highs in late 2021. The combined monthly volume of so-called spot and derivatives trading fell 11.5% to $2.09 trillion, and was the Read more…
The U.S. Court of Appeals for the D.C. Circuit has paved the way for bitcoin exchange-traded funds. From a report: On Tuesday, the court sided with Grayscale in a lawsuit against the Securities and Exchange Commission which had denied the company’s application to convert the Grayscale Bitcoin Trust to an Read more…
Cryptocurrency assets have amplified rather than reduced financial risks in less developed economies, and regulators will need to treat them in the same way they oversee other assets, some of the world’s most powerful central banks have warned. Novel solutions to payments challenges should not be classified as ‘dangerous’ simply Read more…
Brazil’s central bank has named its upcoming digital currency “DREX,” which it aims to use to boost financial services. DREX is scheduled to launch next year. The DREX will use distributed ledger technology (DLT) to settle wholesale interbank transactions, while retail access will be based on tokenized bank deposits. Officials Read more…
PayPal has launched a U.S. dollar stablecoin, becoming the first major financial technology firm to embrace digital currencies for payments and transfers. PayPal’s announcement, which lifted its shares 2.66% on Monday, reflects a show of confidence in the troubled cryptocurrency industry that has over the last 12 months grappled with Read more…