Category Archives: Cryptocurrency News

Minister of Economic Security of Japan urged to speed up the launch of the digital yen

The successes of other countries in the development of the state digital currency are forcing the Japanese authorities to accelerate the creation of the digital yen in order to preserve economic security. Japanese Minister of Economic Security Takayuki Kobayashi called for accelerating the launch of the state digital currency. This is due to the fact that many countries, including China, have already made great strides in this direction. “We need to think about what could…

InnoSilicon started supplying ASIC miners for mining ETH A11 Pro

Chinese manufacturer of computer and mining equipment InnoSilicon began supplying ASIC miners for mining ETH A11 Pro, but the efficiency of the device turned out to be lower than stated. According to the description on the company’s website, the miner’s hash rate is 2,000 Mh / s with an energy consumption of 2.5 kW / h. This is 30% more efficient than the best models for mining ETH. However, the Chinese distributors who received the…

UAE will release the first stamps in the Middle East in the form of NFT

UAE to launch first NFT stamps in the Middle East In honor of the 50th anniversary of UAE National Day, the Emirates Post Group (EPG) has released the first set of a physical postage stamp and its digital equivalent in the Middle East region. On UAE National Day, December 2, the EPG will unveil a new generation of postage stamps to the public. The four innovative brands will have a digital twin that is slated…

American cryptocurrency trader confessed to fraud for $ 5 million

Jeremy Spence, a 25-year-old US trader aka Coin Signals, has confessed to a cryptocurrency fraud. He faces up to 10 years in prison. According to the US Department of Justice, Jeremy Spence has declared his profitable trading in the cryptocurrency markets and lured investors with promises of large returns. However, in reality, Spence’s trade was not profitable and was unprofitable. Spence promised investors 148% per annum or more. And when, as a result of his…

Federal Reserve Bank of New York and BIS opened a center for creating and testing digital assets

The Federal Reserve Bank of New York and the Bank for International Settlements (BIS) have opened an innovation center to create and test new financial technologies. According to the press release, the New York Innovation Center (NYIC) will focus on the development of new financial technologies, including digital currencies of the Central Bank and stablecoins. NYIC is the result of a strategic partnership between the New York Fed and the Bank for International Settlements (BIS)…

Grayscale: Metaverse  Will Reach $ 1 Trillion In A Few Years

Grayscale estimates that the metaverse will reach $ 1 trillion in annual revenues over the next few years, and the sector will compete strongly with Web 2.0. Grayscale has published a report entitled “The Metaverse, Web 3.0 Virtual Cloud Economies”. The researchers emphasized that metaverse platforms that integrate cryptocurrencies, as well as decentralized finance (DeFi), non-fungible tokens (NFT) and decentralized cloud storage, are attracting more and more users looking for new experiences. After analyzing the…

GBV Capital CEO: “NFT and Bitcoin have similarities”

The head of the Hong Kong-based company GBV Capital for investments in development based on blockchain, Christian Ng, spoke about investments in collectible tokens. He believes that NFT and Bitcoin have a lot in common. In an interview with The Millennial Source, Christian Ng stated that the similarities between Bitcoin and NFT lie in creating a community that brings together people with similar views. He named Bitcoin as the first “NFT” to be issued in…

White hackers helped dYdX exchange secure $ 2 million in user deposits

Decentralized cryptocurrency exchange (DEX) dYdX warned users about the vulnerability of a smart contract launched on November 24. The bugs were found by a “white hacker”. dYdX announced on Twitter that users should withdraw assets from the exchange to their cryptocurrency wallets. “All users who have placed deposits since Wednesday 24 November are advised to withdraw their assets as soon as possible. Your money is not at risk, but must be returned back to your…

Powell’s reappointment as Fed chairman will have a beneficial effect on the cryptocurrency market

Most experts are confident that the reappointment of Jerome Powell as chairman of the Fed will allow the bulls to maintain their previous strategy of investing in cryptocurrencies. Mike Bailey, research director at FBB Capital Partners, believes that this decision will serve as a signal for traders who profit from the rally in the market to stick to the old investment strategy. “For die-hard crypto bulls, Powell’s reappointment could provide some stability as these investors…

European Council approved two proposals to regulate digital assets in the EU

The European Council will form a three-year mandate to negotiate with the European Parliament and work on creating a regulatory framework for the cryptoasset market. The European Union Cryptocurrency Regulation (MiCA) Bill is designed to protect investors and consumers from fraud. It provides guarantees that investors’ money will be safe in the event of a hack. If the authorities consider that specific virtual currency exchange platforms pose a threat, they can ban them in accordance…