Study suggests Canadian CBDC could promote digital innovation within the country

A study released by Canada’s central bank, Banque du Canada, has noted a number of favorable reasons that the country could benefit from its own Central Bank Digital Currency, or CBDC. The document laid out two scenarios that might result in the bank issuing a CBDC at some future date. One would be if citizens were no longer widely using cash within the country for reasons that were left unspecified. The other could be if a digital currency, public or private, were to become so widely adopted as to threaten…

Crypto.com deploys its Ethereum Virtual Machine chain testnet

The Crypto.com chain testnet allowing projects built on Ethereum to transfer over to its ecosystem from chains compatible with Ethereum Virtual Machine is now live. In a Tuesday announcement, Crypto.com said it had launched the testnet for its Ethereum Virtual Machine, or EVM, chain called Cronos, running in parallel to the Crypto.org chain. The chain is aimed at providing developers the ability to move projects from Ethereum and EVM-compatible chains to the Crypto.org ecosystem, giving users greater access to DeFi features like smart contracts. “We are going to provide full…

FTX Raises $900 Million and Hits $18 Billion Valuation

Share this article FTX, a major cryptocurrency exchange and crypto futures trading platform, has raised $900 million in a new funding round. Funding Round Attracts Top Investors The Series B funding round brought in money from over 60 investors including SoftBank Group Corp, Sequoia, Thoma Bravo Ribbit Capital, and VanEck. Two crypto exchange funds, Coinbase Ventures and Circle, also participated in the fundraiser. The newly-added funds put FTX’s valuation at $18 billion. Its press release notes that it has seen “tremendous growth” since its launch in May 2019, with revenue…

Enjin plans to use NFTs to promote sustainability and equality as member of UN pact

The United Nations Global Compact, a non-binding pact aimed at encouraging businesses to adopt sustainable and socially responsible policies, has accepted nonfungible token and blockchain gaming and platform Enjin as a participant. Enjin announced today it would be exploring ways to use nonfungible tokens, or NFTs, to promote sustainability and equality as part of the UN pact. The company suggested using the technology to fight climate change by employing it in carbon capture companies and reducing the global wealth gap by allowing creators around the world permissionless access to NFT…

Flurry Finance Raises $3M to Scale its DeFi Yield Aggregation Protocol

Share this article Flurry Finance has closed a $3 million funding round. Flurry Finance Outlines Plans for DeFi Protocol Flurry Finance, the team behind FLURRY, a DeFi protocol offering yield aggregation, recently closed its latest investment round worth $3 million. Investors include AU21 Capital, GenBlock Capital, Shima Capital, CoinUnited.io, One Block, Soul Capital, and Dutch Crypto Investors. The fresh funds will be used in preparation for its product launch in Q3 2021, as well as its IDO which will take place in the same period. FLURRY aims to enhance the…

WiV Signs Agreement with Georgian Government to Develop Georgian Wine’s Global Presence and Quality Assurance

Share this article WiV Technology is bringing wine onto the blockchain. WiV to Tokenize Georgian Wine WiV Technology, a blockchain-based trading platform for unique assets, has signed an agreement with the Georgian government to move some of the country’s wines and their provenance onto WiV’s blockchain empowered platform. The team at WiV will also be developing a quality assurance standard for the county’s wine to enhance its reputation across the globe. Under the terms of the agreement, several Georgian wines and their associated non-fungible tokens (NFTs) will be made available…

Flare to Airdrop Canary Network Token to XRP Holders

Share this article XRP holders who participated in the Spark airdrop snapshot in December will receive a second airdrop, Flare Networks announced today. Flare Plans New Airdrop For XRP Holders Flare Networks has announced a new airdrop as it plans to launch a Canary Network called Songbird. In an announcement, the team said it would airdrop Songbird’s native token SGB in the next six weeks. Flare aims to bring Ethereum-based smart contracts to various non-EVM compatible networks like the XRP Ledger. While the project is scheduled to go live in…

European Union May Ban Anonymous Crypto Transfers

Share this article The European Union has proposed a ban on anonymous transactions that could affect cryptocurrency services by 2024. EU Announces Upcoming Rules In a new publication, the European Union wrote that “EU AML/CFT rules will apply fully to cryptocurrencies: all Crypto Asset Service Providers will have to apply EU rules, to stop cryptocurrencies [from being used] to launder money.” Under the proposal, companies that process cryptocurrency transactions must record customer names and information. The plan would see the EU create a central authority called the EU AML Authority…

FTX smashes crypto funding record with $900m raise to become exchange decacorn

FTX, the cryptocurrency derivatives exchange founded by Sam Bankman-Fried, has closed a $900 million funding round – highlighting once again that venture capitalists are shrugging off market turmoil in their quest to uncover quality blockchain plays. The Series B investment round had over 60 participants, including Softbank, Sequoia Capital, Coinbase Ventures, Multicoin, VanEck and the Paul Tudor Jones Family. With the raise, FTX’s valuation has grown to $18 billion, making it one of the largest cryptocurrency companies in the world. Just one year ago, the derivatives exchange had a valuation…

$13K Bitcoin price predictions emerge with BTC falling below historic trendline

Bitcoin (BTC) prices broke below a long-standing support wave, which was instrumental in keeping its strong bullish bias intact after March 2020’s crypto market crash. Dubbed as the 50-week simple moving average, or 50-week SMA, the wave represents the average price traders have paid for Bitcoin over the past 50 weeks. Over the years, and in 2020, its invalidation as price floor has contributed to pushing the Bitcoin market into severe bearish cycles. Bitcoin price breakdowns below 50-week SMA through the history. Source: TradingView.com For instance, the 50-week SMA acted…