Fed and Yale researchers lay out 2 regulatory frameworks for stablecoins

The Federal Reserve’s ongoing research into central bank digital currencies, or CBDCs, has broadened to include stablecoins and whether they can be effectively regulated.  In their paper, which was published in SSRN’s eLibrary on July 17, Gorton and Zhang argue that “privately produced monies” such as stablecoins are “not an effective medium of exchange because they are not always accepted at par and are subject to runs.” The authors then go on to propose solutions to address what they consider to be “systemic risks created by stablecoins.” After taking a…

$31.5K Bitcoin price on track for lowest weekly close of 2021

Bitcoin (BTC) was on track to lose nearly $3,000 this week as a weekend of mixed price behavior came to an end. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader hopes for last-minute BTC price volatility  Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading at just above $31,500 late Sunday — a potential -$2,800 weekly candle. BTC/USD 1-week candle chart (Bitstamp). Source: TradingView The weekend had produced little by way of surprises, with Bitcoin moving within a predictable range after seeing an initial brief spurt over $32,000 Friday. Despite…

Four North American Bitcoin miners that could benefit from the East-West shift

Even before China finally wielded the ban hammer on crypto mining, Bitcoin (BTC) miners in North America had been building up their capacity amid efforts to gain a larger share of the global hash rate distribution. From building bigger data centers to acquiring hardware inventories, these establishments have been making concert efforts to balance the hash-power dichotomy between the Eastern and Western hemispheres. North American Bitcoin miners often have to contend with energy usage concerns as well and some have been keen to partner with oil and gas firms, becoming…

Bitcoin sees second-longest bull market drawdown with BTC price ‘stuck’ at $30K

It’s now three months since the last Bitcoin (BTC) all-time high, but one measure suggests that holders may be waiting even longer for the next. In a series of tweets on July 17, analytics service Ecoinometrics revealed that this year’s descent from all-time highs is the second-longest in Bitcoin bull market history. $30,000 may stay “for a while” It’s been 95 days since BTC/USD hit $64,500 and a major correction phase began. Investors are impatient, but despite strong fundamentals, Bitcoin spot price action seems in no hurry to leave $30,000…

Unifi Protocol Combines DeFi and Blockchain Staking with Acquisition of Multi-chain Staking Provider

Share this article Another promising development for Unifi, as the project announces it has acquired Sesameseed. Unifi Protocol acquires the assets of multi-chain staking provider Unifi Protocol is proud to become the first DeFi platform to create a blended ecosystem of DeFi and blockchain node staking rewards. Existing nodes on six blockchains will join with Unifi’s existing seven-chain DeFi ecosystem. Blockchain validation is a large industry and is projected to grow substantially larger as Ethereum and other cryptocurrencies adopt Proof-of-Stake as a security mechanism. Unifi has acquired the assets of…

How the Sports World is Embracing Crypto

Key Takeaways Crypto has seen fast adoption throughout the sports world. High-profile sponsorships are giving crypto companies mainstream exposure. Crypto assets like NFTs and fan tokens are creating new value for sports organizations. Share this article Sports and crypto may seem like two unrelated worlds, but they have much to offer each other under closer inspection.  Crypto Exposure Through Sponsorships In 2014, Bitcoin payment provider Bitpay signed on with ESPN to sponsor a college football game, the St. Petersburg Bowl. Although minor, it marked a significant milestone as the first…

Female-focused brands accept crypto payments driving adoption

While Bitcoin (BTC) may be considered as a store of value for many, some consumers across the globe may be thinking otherwise. Recent data has revealed that 46 million people in the United States plan to use cryptocurrency to pay for things such as groceries or real estate. Payments giant Visa further revealed in July that its crypto-enabled cards processed over $1 billion in total spending during the first half of this year.  As such, it shouldn’t come as a surprise that major brands like Starbucks, Home Depot and Target have…

Here’s one way to trade Bitcoin even as BTC price teeters over an abyss

In the last 29 days, Bitcoin (BTC) has been ranging from $31,000 to $36,000 as the impact of the recent China ban and a $1.4 billion Grayscale GBTC share unlocking continue to pressure markets. China’s government implemented a series of measures to curb cryptocurrency mining and trading by ordering the immediate shut down of some operations and instructing domestic banks to suspend the bank accounts of entities involved in the industry. Meanwhile, the $21 billion trust fund Grayscale and its GBTC security is facing a troublesome period as institutional investors’…