The United Nations Conference on Trade and Development (UNCTAD) believes the impact of cryptocurrencies should be limited in developing nations. According to the agency, digital assets are unstable financial products that could cause further issues to already shattered economies. Amid the global monetary crisis, numerous residents of emerging countries chose to convert their depreciating fiat...Read More
Polkadot’s decentralized finance (DeFi) hub Acala suffered a major attack on its newly launched liquidity pool on Sunday. The exploit allowed the hacker to mint more than 1.2 billion aUSD, the project’s stablecoin. Shortly after the hack, the Acala team updated users on Twitter, noting that the exploit originated from a “misconfiguration of the iBTC/aUSD...Read More
The Ethereum (ETH) blockchain’s potential effects on scaling solutions are being examined by cryptocurrency exchange Coinbase. Layer-2 scaling solutions (L2s), according to a study by Coinbase, may reduce Ethereum’s earnings. The future of L2s may very well be a zero-sum game, with whatever L2 eventually powers the whole Ethereum ecosystem being the one that hosts...Read More
Ripple’s latest Value Report estimated that 76% of financial institutions plan to use cryptocurrencies in their operations in the next 36 months. The majority of those entities, though, said they will delve into the industry, assuming there is an appropriate regulatory framework applied to it. The study also revealed that 20% of global consumers would...Read More
According to a study conducted by Chainalysis, wrongdoers have stolen approximately $1.4 billion worth of digital assets between January 2022 and now. Targeting cryptocurrency bridges seems to have been a preferred method. Some examples of such attacks in 2022 include the exploit of the Horizon bridge, the $190 million breach on Nomad Bridge, and one...Read More
The Singapore-based crypto-exchange company – Valud has come under the radar of the Enforcement Directorate of India (ED), the anti-money laundering agency of the country. ED in a press release stated that it had conducted a search at the Bangalore office of Valud and has frozen assets worth Rs. 370 crores (approximately $46 million). The...Read More
The inflation rate may have slowed in the US, but elsewhere, it’s a different story. In fact, both France’s and Spain’s inflation rate has increased to a level not seen in almost four decades. Official figures are concerning. Crypto adoption in both countries has been on the rise. But will the upcoming financial strains have...Read More
