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Ripple Launches Innovation Challenge for CBDC Solutions on XRP Ledger

Ripple is launching an innovation challenge aimed at promoting the development of XRP Ledger (XRPL) applications for central bank digital currencies (CBDCs). According to the contest page, entrants can submit projects for three categories: interoperability, retail orientation, and financial inclusion. Under the contest rules, interoperability projects must include solutions that help CBDCs connect with other…

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MicroStrategy takes a big hit after crypto crash

Software giant MicroStrategy continues to suffer thanks to its ongoing ties to bitcoin. The world’s number one digital currency by market capitalization has been seeing a series of big losses in recent weeks that have finally seen all of its 2021 gains disappear over the course of a few months, and now it looks like…

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Russia appears to be preparing to mine Bitcoin with torch gas

One of the largest carbon emitters in the world, Russian gas giant Gazprom aims to reduce its carbon footprint by providing its flue gas for Bitcoin mining. The Russian government continues to forge ties with major players in the cryptocurrency mining industry, despite remaining skeptical about legalizing cryptocurrency trading and payments. Russia’s state-owned gas giant…

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Crypto Lending Company Blockfi Cuts Staff by 20%

On Monday, the cryptocurrency lending company Blockfi announced that “market conditions” have had a “negative impact” on the firm’s business and it will be laying off “roughly 20%” of its staff. The message written by Blockfi co-founders Zac Prince and Flori Marquez follows a slew of well known crypto firms cutting back employees due to…

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Huobi Global Acquires Latin American Cryptocurrency Exchange Bitex

Digital currency exchange Huobi Global has revealed that it has acquired Bitex, a Latin American cryptocurrency platform that operates in Argentina, Chile, Paraguay, and Uruguay. Huobi details that the company is stepping up its presence in Latin America, as it believes the region will be one of the most active areas of cryptocurrency adoption worldwide….

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Venture Capital Titan Andreessen Horowitz Launches Massive $4.5 Billion Crypto Fund Amid Bear Market

A Silicon Valley-based investment firm is launching a massive $4.5 billion digital assets fund as crypto markets continue to see widespread stagnation. According to a new letter penned by Andreessen Horowitz general partner Chris Dixon, the venture capital giant is launching the latest fund because the world is entering into the “golden era” of Web…

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Top Coins to Buy for Quick Short-Term Profits

There are two types of cryptocurrency investors. The first category of investors are those who buy cryptocurrencies to hold for long periods of time. There is also an army of traders who buy and sell cryptocurrencies in days or weeks. Either way, everyone wants to get some return on capital. Here’s why short-term cryptocurrency trading…

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Dubai creates committee to help consolidate its position as “key city of the metaverse”

Dubai’s rulers have created a committee charged with monitoring the latest developments in the digital economy. The committee is also expected to strengthen the government’s quest to make Dubai a “key city in the metaverse”. The vision of Dubai’s rulers Dubai rulers Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince and Deputy Prime…

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Investors continue to trade LUNA despite massive drop

Investors continue to trade the LUNA token despite its big drop as the coin loses 99% of its value from $62 on May 9 to less than a cent on May 14. However, as of May 20, LUNA remains the most sought-after cryptocurrency. CoinMarketCap. With a market capitalization of $918 million, LUNA is trading at…