Nomura, a global financial services group, Laser Digital, a digital asset-based business, and GMO Internet, the parent company of stablecoin issuer GMO-Z, have partnered to explore the issuance of U.S. dollar and yen based stablecoins in Japan. The partnership also contemplates the development of a platform to offer stablecoin issuance services to other companies. Nomura, […]
Bitcoin News
Mastercard, Visa, JPMorgan, and Other Major Banks Explore Tokenized Asset Settlements
Several major financial firms are collaborating to test the benefits of shared-ledger technology for jointly settling tokenized assets like commercial bank money and various securities. The initiative, known as the Regulated Settlement Network, is a proof-of-concept designed to expedite and secure cross-border transactions using a singular system for tokenized assets. This trial is an extension […]
Bitcoin News
Former President Donald Trump’s Advisers Explore Penalties for Nations Ditching US Dollar
Former U.S. President Donald Trump’s economic advisers are reportedly devising strategies to deter nations from reducing their reliance on the U.S. dollar. Proposed deterrents include export controls, currency manipulation charges, and tariffs. Trump remains committed to preserving the U.S. dollar’s dominance as the global reserve currency. Nonetheless, a growing number of countries, particularly BRICS members, […]
Bitcoin News
Bank of Ghana Launches Hackathon to Explore Various Use Cases of CBDC
The Ghanaian central bank said it will be hosting a 12-week hackathon where participants are expected to explore the e-cedi’s nine different use cases. At the end of the hackathon, the central bank will hold a conference where individuals with outstanding solutions are recognized.
Addressing Ghana’s Financial Inclusion Challenges
The Ghanaian central bank, also known as Bank of Ghana (BOG), recently announced the launch of a central bank digital currency (CBDC) hackathon. According to the bank, this event seeks to avail opportunities to fintech startups, developers and innovators to develop innovative solutions that explore various use cases of CBDC.
https://t.co/bvOB6EsBoW#eCedi #hackathon #bankofghana pic.twitter.com/KOGqPwBrGT
— Bank of Ghana (@thebankofghana) October 6, 2023
In a press release jointly issued with technology partner Emtech, the Ghanaian central bank said the hackathon will run for a period of 12 weeks. During this time, innovators are expected to come up with solutions that address financial inclusion challenges. At the end of the hackathon, a conference where outstanding solutions are recognized will be held.
Real Life Use Cases
Explaining why this method of discovering the best solutions was chosen, the BOG said:
“The project is a part of the e-cedi research project and presents an opportunity for the Bank to explore emerging technologies, foster creativity and contribute to the advancement of the e-cedi development.”
Meanwhile, the Ghanaian central bank stated that individuals and teams with a passion for the technology are eligible to join the hackathon. Among the nine use cases that the BOG wants developers and innovators to focus on is the use of the e-cedi in merchant transactions. Other use cases include using the e-cedi for government payments and inbound remittances.
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Explore El Salvador: Gofaizen & Sherle Launches New Crypto License Service
PRESS RELEASE. Tallinn, July 31 – Gofaizen and Sherle, the leading Estonian crypto and fintech consultancy, proudly announces the launch of its latest product in El Salvador. The innovative service offers crypto companies and startup owners worldwide a comprehensive and streamlined solution for obtaining a crypto license in El Salvador.
The newly introduced service features three distinct packages tailored to meet the varying needs of businesses – Basic, Fully Operational, and Complete. The Basic package encompasses turnkey company formation, essential corporate documents, AML/KYC policies, and a coveted crypto license. The Fully Operational package further includes additional benefits like personalized KYC and AML policies, assistance in bank account opening, and the crucial service of searching and employing a dedicated compliance officer. For those seeking a comprehensive package, the Complete option includes all the services offered in the Basic and Fully Operational packages, along with an office rent agreement for one year and one year of comprehensive accountant services, including the preparation of annual reports.
With Gofaizen & Sherle’s professional service, companies can swiftly and easily obtain a crypto license in El Salvador, with the entire process taking approximately 4-5 months. The pivotal step in obtaining a license in El Salvador involves company registration and meticulous preparation of all necessary documents.
“Gofaizen & Sherle presents a full cycle service for obtaining crypto license in El Salvador. We take care of all the paperwork and provide robust legal support for our clients, allowing them to focus on their business and operational activities. El Salvador stands out as one of the most favorable jurisdictions for crypto projects due to its early adoption of Bitcoin as legal tender and its accommodating tax regime, offering the full tax exemption for companies which obtained a crypto license. Moreover, the country offers a secure and reliable crypto-friendly banking system, making it an attractive destination for crypto projects. Gofaizen & Sherle helps crypto companies to start business in El Salvador, offering a comprehensive and streamlined solution for obtaining crypto license in this unique jurisdiction,» said Mark Gofaizen, Senior Partner at Gofaizen & Sherle.
El Salvador not only presents exceptional opportunities for obtaining crypto licenses but also boasts a wide array of possibilities for crypto projects. These include setting up companies for crypto exchange and custody services, payment processing, digital asset and derivatives trading, issuing tokens, stable coins, or other types of tokens, as well as engaging in DeFi activities.
About Gofaizen & Sherle:
Gofaizen & Sherle is a leading consulting firm headquartered in Tallinn, Estonia. Our comprehensive services guide businesses through every step, from conceptualization to realization, offering expertise in complex legal consulting, business development, accounts opening, and obtaining the necessary licenses for companies. With a deep understanding of the regulatory landscape, we provide tailored solutions to help businesses thrive in the dynamic world of emerging industries.
For more information, please visit https://gofaizen-sherle.com
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Bankrupt Crypto Exchange FTX Continues to Explore Potential Relaunch, Court Records Reveal
Recently submitted court records in the FTX insolvency case reveal that the exchange’s new CEO, John Ray III, has been exploring a revival plan for the now-disabled trading platform and the “preliminary formation of restructuring strategies.”
FTX’s Revival Prospects Surface as New CEO Explores Reboot Plans and Bidder List
The current CEO and main restructuring officer of FTX appears to be examining the possibility of relaunching the exchange, as indicated by a court document detailing the company’s staff and compensation report for the period from April 1, 2023, to April 30, 2023. This isn’t Ray’s initial mention of such a plan, since he discussed rebooting in his first interview following FTX’s collapse in mid-January 2023.
In April, FTX’s present operators uncovered .3 billion in liquid assets, and legal professionals debated resuming the exchange later as a potential means to restructure its debt. It seems that Ray has been engaging with certain organizations to assess relaunch possibilities. For example, on April 4, Ray deliberated an “exchange fortification” proposal with cybersecurity firm Sygnia.
Ray examined a “2.0 next steps” summary and a “2.0 reboot of exchange material” on April 14 and April 19. The court record also references a “2.0 bidder list,” implying that the restart endeavor could be sold to another cryptocurrency market player. With a billing rate of ,300 per hour, Ray accrued 0,160 for his recorded 223.2 hours of work within the compensation report.
Report reviews can cost between 0 and ,850, while the fee to “review and comment on 2.0 bidder list” was 0 according to the document. As this news spread throughout the crypto community, FTX’s native token FTT saw an increase of over 14% in value within the past day. On Tuesday, May 23, FTT traded at prices ranging from .992 to .16 per unit, amassing approximately million in global trade volume.
What are your thoughts on FTX’s potential revival and the involvement of its new CEO in exploring restructuring strategies? Share your opinions and insights in the comments section below.
Biden Aides Explore Minting $1 Trillion Platinum Coin as Solution to Impending Debt Default
As the United States stares down the barrel of a potential debt default come June, a curious and intriguing solution has emerged: crafting a single trillion platinum coin. This unusual tactic exploits a legal loophole that allows the Treasury Department to mint platinum coins of any value. By delivering such a coin to the U.S. central bank, the Treasury would create enough funds to settle its debts. Though this proposal might sound bizarre, it’s gained traction as a potential escape route from the impending debt catastrophe.
The Trillion-Dollar Platinum Coin Idea to Stave off U.S. Debt Default Returns
Devotees of Modern Monetary Theory (MMT) will be thrilled to learn that the trillion-dollar coin concept is making headlines once more as America edges ever closer to defaulting on its debt. Just three days ago, Treasury Secretary Janet Yellen cautioned that a U.S. debt default could likely result in an “economic and financial catastrophe.” As tensions rise over the debt ceiling, talk of the Treasury forging a trillion-dollar platinum coin has experienced a resurgence.
Insider reporters Juliana Kaplan and Ayelet Sheffey quote Rohan Grey, a professor at Willamette University College of Law and MMT advocate, as proclaiming the idea’s feasibility. Grey contends that “at this point, if any of the other solutions, the so-called more serious solutions would work, then they would’ve been used by now,” but they continue to disappoint. “The coin’s the only one that’s strong enough,” he asserts.
Back in 2020, during the initial stages of the Covid-19 pandemic, Grey collaborated with Michigan Democrat Rashida Tlaib on a proposal allowing for the U.S. Treasury to mint not one but two trillion-dollar coins for basic income purposes. Acclaimed journalist Joe Weisenthal hailed it as just “the kind of break-the-glass thinking we need to address the scale of the crisis.”
Even former President Barack Obama touched on the idea during a 2017 interview and suggested officials mull over this concept if financial turmoil engulfs the nation. In October 2021, U.S. lawmakers also suggested minting a trillion platinum coin in order to magically bolster the treasury with cash for the same reasons.
Despite the buzz, Insider’s Kaplan considers the trillion-dollar coin plan “unlikely to fly,” noting that “Biden aides are looking at other legal workarounds.” The concept has elicited both ridicule and bewilderment on social media, with some commentators poking fun at the claim that this fabled trillion-dollar coin would be no larger than a standard one.
Shapeshift founder Erik Voorhees quipped: “Thank god it would be no bigger than a regular coin.” Meanwhile, Wall Street Silver’s Twitter account chimed in: “They are starting to talk about the magical trillion platinum coin again. This is really an ‘end of empire’ type of economic strategy here. Why can’t they rationally discuss reasonable budget cuts to get things under control?”
Oddly enough, Nobel laureate Paul Krugman maintains that adopting the trillion-dollar coin approach would not constitute an implementation of MMT. “I keep seeing people saying that this would be MMT, that we’d just be printing money to cover the deficit,” Krugman said. “But it wouldn’t be that at all. The Fed would surely sterilize any impact on the monetary base by selling off some of its huge portfolio of U.S. debt.”
The Keynesian economist added that “minting the coin is just borrowing through the back door. It’s not financing the deficit through seigniorage, it’s not a way to avoid interest payments. It’s just a bookkeeping trick to avoid extortion.”
What do you think about the trillion-dollar platinum coin proposal as a solution to the United States’ impending debt default? Do you believe it’s a viable option or just a bookkeeping trick? Share your thoughts in the comments below.
What Is The Possibility Of Cardano Touching $0.50 Mark? Let’s Explore
The crypto market has halted its brief bullish rally, with prices generally dropping; for example, Cardano (ADA) has lost 9% in the last 24 hours. Currently, Cardano is trading at .366.
In recent weeks there has been an upsurge in most cryptocurrency prices due to the recent rally of bitcoin. However, experts believe the crypto winter is still on but nearing its closing phases.
The general slump in the big crypto players like bitcoin has hindered ADA’s full potential. Nevertheless, the Proof-of-Stake mechanism remains a standout feature of Cardano.
Cardano’s wide range of applications for smart contracts and DApps will likely see more platforms adopting the token.
Developmental Plans unveiled
However, Cardano’s developmental plans were intensive on November 2, 2022. Input Output HK (IOHK) released vital information on the Daedalus mainnet 5.1.1 release. This information created positive reactions from the crypto community,
Daedalus is a cryptocurrency wallet that only supports ADA tokens and is highly secured. In addition, the wallet enables users to stake their tokens and earn rewards. The launch of this wallet has been widely anticipated in the crypto community as it offers users an extra layer of security.
However, this development had no significant impact on the pricing. Similar reactions were noted with the Cardano Vasil upgrade, as it did not significantly impact the token’s price.
Will Cardano Reach The .50 Mark?
Despite the recent brief rally in the cryptocurrency market, it will be difficult for Cardano to reach the mark. The project reached its all-time high of .10 0n September 7, 2021, and is yet to surpass the price level.
From the Donchain channel, the candles are seen in the upper channel signaling a potential price rise in the short term. The 0.5 level is more realistic for ADA to attain.
The MacD also observed above its signal line shows bullish sentiments. It must be noted, however, that the two lines are almost in contact. This indicates that the bull run might likely be short-lived with no significant price corrections.
Cardano will likely surpass the critical resistance level of $ 0.58. If such an event occurs, it will likely trigger a bullish run for the cryptocurrency token.
However, if Cardano falls below the critical support level of .33, the coin might likely go into freefall as market forces act on the price. Although ADA has shown positive price movement in recent weeks, the level is some way off for the token, with critical Support and resistance levels still untested.
Cardano might likely fluctuate from the price movement between the .4 and 0.5 price level this month. While ADA may not get up to the mark, it is still a cryptocurrency worth investing in for the future.
Featured Image from Pixabay | Charts by TradingView
8 Best Crypto on Reddit to Buy and Explore in 2022
When it comes to investing, looking for the best crypto to buy right now Reddit can be a solid strategy.
Throughout this guide, we’ll take a look at eight of the best crypto to buy right now Reddit and provide a guide detailing how to purchase our top choice. Let’s begin.
Best Crypto on Reddit to Buy – Our Picks
Each of the projects below has been chosen as it offers utility and plenty of upside potential.
- Tamadoge – Overall Best Crypto on Reddit
- Battle Infinity – P2E Gaming Ecosystem with Explosive Potential
- Lucky Block – NFT Competitions Platform Primed to Explode
- Loopring – Layer-2 Ethereum Scaling Solution
- Nexo – Crypto Loans and Yielding Platform
- ApeCoin – Yuga Labs Affiliated Cryptocurrency
- Hedera – Enterprise-Grade Layer-1 Blockchain
- Monero – Privacy-Focused Crypto Project
Best Crypto on Reddit to Buy – Reviewed
Finding crypto set to explode doesn’t have to be difficult. We’ve rounded up and reviewed eight of the projects most likely to experience parabolic growth in the near future.
Tamadoge – Overall Best Crypto on Reddit
Tamadoge (TAMA) is a presale crypto bringing utility to meme coins through the creation of an engaging and rewarding play-to-earn game.
Within a Metaverse world called the Tamaverse, players can explore, communicate, and raise Tamadoge pets. Each 3D-animated pet is tokenized and can be upgraded using items from the Tamadoge store. When a pet levels up, the player is rewarded with Dogepoints, increasing their leaderboard ranking. The higher a player is ranked, the larger their share of the rewards pool.
As Tamadoge features a supply of just 2 billion tokens as well as a 5% burn rate on in-store transactions, the value of TAMA is likely to grow exponentially over the long-term. Furthermore, TAMA already has a confirmed listing on the LBank exchange, meaning that once the presale is over the token could explode.
By appealing to casual gamers as well as crypto enthusiasts, Tamadoge has the potential to capture a massive audience for its game. As most crypto games tend to neglect casual users, this could help Tamadoge to build up a huge user base.
Tamadoge is an extremely promising project that could be the best crypto Reddit. It’s currently in presale but the price per TAMA will slowly increase as tokens are sold so it’s worth getting in early. Check out the Tamadoge Telegram for more information (admins will never message first).
Battle Infinity – P2E Gaming Ecosystem with Explosive Potential
Battle Infinity (IBAT) is a P2E gaming ecosystem blending DeFi and NFTs. The project has been a massive hit with investors selling out its presale, raising 16,500 BNB. IBAT token will be listed on PancakeSwap August 17th, so investors have another chance to buy.
The Battle Infinity ecosystem consists of six primary features. A fantasy sports league, a Metaverse arena, a collection of P2E games, a decentralized exchange (DEX), an NFT marketplace, and a staking platform.
With Battle Infinity providing investors with a wide range of features that complement one another, it’s likely to keep a greater amount of value within the IBAT ecosystem rather than going to third parties like OpenSea.
As Battle Infinity has created a strong community and high demand for the IBAT token, the PancakeSwap listing will likely prompt IBAT to shoot up in value, attracting more investors. With this crypto set to explode, it’s worth checking out Battle Infinity and joining the IBAT Telegram group.
Update – IBAT exploded 4.5x within minutes of its listing, a 6x gain relative to the presale price, before a correction.
IBAT price chart on launch day
Lucky Block – NFT Competitions Platform Primed to Explode
Lucky Block (LBLOCK) is the only NFT competition platform where everyone’s a winner. The project uses blockchain technology to create a fair and efficient system.
Competitions on the Lucky Block platform are entered by purchasing the relevant NFT from leading marketplace NFT launchpad. Prizes range from million in Bitcoin to World Cup Tickets or a Bored Ape Yacht Club (BAYC) NFT, so there’s something for everyone.
Even after a competition has ended the NFT doesn’t lose its value. Each day, the holder will receive a portion of the rewards pool, giving each NFT both immediate and long-term value.
Toward the end of July, Lucky Block transitioned from the BEP standard to ERC. This has enabled the project to be listed on centralized exchanges. The first listing, on MEXC, caused the token to rise by around 400% in the days prior. A new listing on Gate.io has recently been announced for mid-September so it’s the perfect time to stock up on tokens.
With a stream of listings planned for the future, Lucky Block is perhaps the best crypto to buy right now Reddit. Join the Lucky Block Discord community to hear about the next big listing before anyone else.
Loopring – Layer-2 Ethereum Scaling Solution
Ethereum has long been plagued with scalability and gas fee issues but layer-2 Ethereum roll-up Loopring (LRC) could change that.
By acting as a layer on top of Ethereum, Loopring benefits from the network’s decentralization and security while also being able to add extra features. In order to reduce fees and improve scalability, Loopring bundles transactions together off-chain to be simultaneously settled at a later time on-chain.
Loopring has constantly been regarded as one of the best crypto to buy right now Reddit and it’s only improving so we could see it become the next cryptocurrency to explode.
Nexo – Crypto Loans and Yielding Platform
Nexo (NEXO) is a platform enabling investors to receive loans and earn rewards using crypto.
The project provides crypto investors with immediate access to fiat loans using the crypto as collateral, helping to avoid issues with capital gains. Investors can also NEXO as well as other cryptos to earn rewards by locking up their holdings.
Overall, the project fulfills a real need within the crypto space and has been a big hit with Redditors.
ApeCoin – Yuga Labs Affiliated Cryptocurrency
ApeCoin (APE) is a new cryptocurrency created in part by the team responsible for the BAYC NFT collection.
APE acts as a governance token for the ApeDAO allowing the community to govern the APE ecosystem. Investors can vote on updates to the project, treasury spending, and more.
With Yuga Labs projects tending to take off, ApeCoin is one of the best crypto to buy right now Reddit.
Hedera – Enterprise-Grade Layer-1 Blockchain
Hedera (HBAR) is an enterprise-grade blockchain perfect for dApps.
The Hedera network can handle a far higher throughput than networks like Ethereum. This allows it to settle transactions quickly and cheaply.
The project has picked up traction recently for its use in dApps and Web3 applications, meaning it could be the best crypto to invest in 2022.
Monero – Privacy-Focused Crypto Project
Monero (XMR) is privacy-centric crypto that allows users to send funds anonymously.
In order to guarantee anonymity, Monero obscures key data (amount, addresses, etc) on every transaction. With Monero adhering to the crypto ethos, it’s become quite popular in recent years.
It was reported recently that Monero sees as much as 25% of the volume Bitcoin does. With figures like this, XMR could be the best crypto to buy right now Reddit.
CoinEx & ViaBTC Co-host NEW BLOC NIGHT to Explore New Trends in the Industry
Last week, New Bloc Night, the opening party of Austin blockchain week hosted by NEW BLOC, came to a successful conclusion at the Otis hotel in Austin.
As sponsors of this event, CoinEx and ViaBTC, together with more than 20 well-known investment institutions, public chain, DAPP, DAO, Web3.0, cryptographic financial service providers and other blockchain industry leaders, participated in speeches and round table meetings to jointly discuss the problems and development trends of the cryptographic industry, explore ways to compound interest growth of cryptographic assets.
A number of distinguished guests shared their insightful and original views on the event. Nearly 200 employees in the encryption industry participated in the event online and offline.
In addition, industry insiders including CoinEx & ViaBTC Partner Adam Chastain, ZKSpace Director of Business Development Mattias Borg, and FlashMining Founder & CEO Jackey Lin engaged in fantastic roundtable discussions and offered their views on trending topics like “Crypto Mining and Carbon Emissions: Trends in Crypto Mining”, “Decentralization vs. Centralization”, and “Web3 is What Young People Yearn For: What are the new opportunities?”.
As a world-leading all-inclusive mining pool and also a staunch advocate of mining with clean energy, ViaBTC gave its views on crypto mining and carbon emissions that technological progress will address all such concerns. ViaBTC Pool has always been looking for technical solutions to energy sustainability in the field of crypto mining. In addition, it is also working with institutions such as QITALE, a mining organization from Minnesota, USA that uses water energy, and SAI.TECH, an operator of clean computing power.
Though the annual crypto carnival of Austin Blockchain week has ended, the development of the blockchain world still requires the joint efforts of crypto believers from all over the world. Meanwhile, ViaBTC will also remain dedicated to the blockchain space. Relying on cutting-edge Fintech, ViaBTC aims to facilitate blockchain progress and build a better future via blockchain, thereby realizing its mission – Via Bitcoin, Making the World a Better Place.