This week, the Ethereum network’s burn rate reached a milestone by surpassing 2 million ethereum burned worth $5.81 billion since August 5, 2021. Metrics show the crypto network has a 24-hour burn rate of 1.74 ether per minute, which equates to roughly $5K worth of ether destroyed every 60 seconds.
Malaysia’s communications ministry has proposed legalizing non-fungible tokens (NFTs) to increase the participation of young people in the cryptocurrency space. The crypto sector is under the purview of the central bank, Bank Negara Malaysia, and the Securities Commission.
The 16th chair of the Federal Reserve, Jerome Powell said that America’s “inflation is much too high” on Monday, and he further explained that the U.S. central bank is willing to raise rates more aggressively. Off the heels of the first benchmark interest rate increase since 2018, Powell stressed that the Fed will “take the necessary steps” to ensure price stability is feasible. The Fed chair further said raising the federal funds rate by “more than 25 basis points” may be appropriate.
Harrison mentions the troubles Marijuana-Related Businesses' go though due to being unbanked and says crypto payments can be the solution they're looking for
The global crypto community raised and donated approximately $25 million through various official channels.
Trading cryptocurrencies is a bit confusing for many investors. It’s called CFD trading, and it means you speculate on the market and whether it might rise or fall. You don’t own the digital asset, which means you don’t have to deal with the transactional records of the blockchain.
Metametaverse, a company whose purpose is the integration and interoperation of different metaverses, has already secured funding of $2 million for this idea. Joel Dietz, the founding father of this initiative and also from the uber-popular wallet Metamask, has stated this task might be achieved by building a common pool of assets and experiences through a Level 1 blockchain like Ethereum or Bitcoin.
The U.S. Department of the Treasury does not see that cryptocurrency could be used in a large-scale way to evade sanctions. “Its share as a medium for illicit finance is not anywhere as large as just using cash,” a senior Treasury official noted.
Sam Bankman-Fried’s FTX is partnering with AZA Finance to expand the use of digital currencies and Web3 in Africa. Through this arrangement, the two companies will also work to “onboard African NFTs and artists onto the FTX NFT marketplace.”
During a discussion published on March 12, 2022, the billionaire entrepreneur and venture capitalist, Peter Thiel discussed how he built Paypal with fellow co-founders Max Levchin, David Sacks, and Luke Nosek. Toward the end of the hour-long conversation, the topic quickly turned to cryptocurrencies and Thiel stressed that his “biggest mistake” during the last ten years “was getting too late and too little into bitcoin.”
No data