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Tether CTO reveals that hedge funds attempted to short USDT

Stablecoins have faced intense pressure over the past two months since the collapse of the TerraUSD (UST) stablecoin. The Chief Technology Officer at Tether, Paolo Ardoino, has now revealed that hedge funds have been trying to short USDT to benefit from the depegging of the world’s largest stablec...

Uzbekistan issues executive order on Bitcoin mining

Cryptocurrency mining has been a contentious issue in many countries because of the energy demands by proof-of-work algorithms. The National Agency of Prospective Projects (NAPP) in Uzbekistan has published a list of demands targeting crypto mining operations. Uzbekistan’s demands on crypto min...

Bitcoin Lightning Network capacity hits 4000 BTC

The capacity of the Bitcoin Lightning Network has reached 4000 BTC The levels follow the increased use of the network by institutions The Lightning Network offers scalability that promotes BTC’s use as a payment method The Bitcoin community has commended the network for seeking scalabilit...

Blockchian.com users to receive free NFT domains

Blockchain.com has announced a partnership with Unstoppable Domains Blockchain.com users will receive free domains through this partnership NFT domains are used because they are easier to remember because they are like human addresses Blockchain.com, one of the oldest cryptocurrency exchang...

Chainalysis report shows Terra collapse did not cause Bitcoin crash

Chainalysis has said that the collapse of UST was not the main factor that triggered Bitcoin’s crash The report noted that Bitcoin’s crash is correlated to the dip in tech stocks UST crashed in early May after a liquidity crisis on the Curve pool The first week of May was rough for the...

Swedish central bank critics Bitcoin citing high energy consumption

The Swedish central bank has advocated for a ban on PoW mining The institution noted that PoW mining consumed a high amount of energy The Riksbank report has been criticized by the Bitcoin community The Bitcoin network runs on a proof-of-work consensus. PoW has been criticized for being ene...

US Treasury Secretary urges people to avoid cryptocurrencies in retirement

Janet Yellen has said that cryptocurrencies should not be used for retirement She said that crypto was a very risky asset class Yellen has never been a supporter of the crypto space and has previously criticized the asset class over its volatile nature The US Treasury Secretary, Janet Yelle...

Exchange giant Binance targets Africa in new awareness tour

Binance is planning to launch a crypto awareness tour in Africa The tour will target countries like Nigeria, Ghana, Uganda, and Cameroon The rate of crypto penetration in Africa has increased significantly Africa is becoming one of the primary hubs for cryptocurrency transactions. The crypt...

Australian banking giants ANZ and NAB say they will not support retail crypto trading

Two of the largest banks in Australia have said they will not support retail crypto trading The two banks have cited the heightened risk of crypto products to customers The Commonwealth Bank of Australia is the only major bank in Australia supporting crypto trading Officials from two of the...

China re-emerges as the second-largest Bitcoin miner despite ban

China has re-emerged as the second-largest Bitcoin miner The country now accounts for 21.1% of the Bitcoin mining hash rate After China banned crypto mining last year, the mining hash rate dropped to 0% The Chinese government imposed a ban on cryptocurrency trading and mining last year....

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