The Bank of Canada has recently decided to halt its Central Bank Digital Currency (CBDC) initiative that was initially launched in 2017. The move is revealing, particularly as it underscores the complexity and intricacies involved in transitioning to a digital currency system. This initiative was primarily conceived in response to rapid advancements in technology and
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As central banks worldwide contemplate the implementation of Central Bank Digital Currencies (CBDCs), a recent survey conducted by Deutsche Bank reveals a surprising insight: cash continues to hold its ground among consumers. The study surveyed nearly 5,000 individuals from Europe, the UK, and the US, uncovering a distinct preference for traditional payment methods over emerging
In recent years, cryptocurrencies have gained immense traction as a popular form of digital investment and trade. However, the rapid development of this financial frontier has also attracted the shadows of cybercriminal activities. One major concern surrounding this new financial landscape is the ability for illicit actors to exploit cryptocurrency exchanges for nefarious purposes, particularly
The financial landscape of 2024 has been nothing short of turbulent, with various factors shaping the performances of traditional and digital assets alike. Among these assets, gold has made headlines with an extraordinary price surge, marking a significant trend in the year thus far. Similarly, Bitcoin has attempted to carve out its narrative as the
Bitcoin (BTC), the dominant cryptocurrency, has surged recently against a backdrop of intensified spot market trading. The current bullish momentum is underscored by recent analysis from Bitfinex, which points to on-chain metrics that indicate increased investor confidence. A critical element in this rising trend is the notable inflow into Bitcoin exchange-traded funds (ETFs) within the
Bitcoin recently experienced a significant daily surge, jumping from $53,600 to over $58,000 in just one day. This surge has left many in the crypto community wondering about the reasons behind this impressive price movement. One possible explanation lies in the US spot Bitcoin ETFs that have been in play since mid-January this year. These
The recent collaboration between Crypto.com, a prominent cryptocurrency exchange based in Singapore, and Standard Chartered, a multinational banking institution, has sent shockwaves through the crypto industry. This partnership aims to provide retail users worldwide with access to fiat services, specifically enabling the deposits and withdrawals of the United States dollar (USD), the euro (EUR), and
In the wake of Federal Reserve chair Jerome Powell’s comments at the Jackson Hole symposium, the demand for bitcoin (BTC) in the United States has been on the rise. This surge in interest has been reflected in the spike in the Coinbase Premium, reaching its highest level since July at 0.11%. The increase in demand
As the highly-anticipated 2024 bitcoin bull run unfolds, it is clear that things are not going as planned. Despite initially breaking its 2021 all-time high, the journey towards the coveted $100,000 mark has been met with setbacks and disappointments. Perplexity, a popular AI chatbot, has highlighted some key factors that could potentially propel another bullish
Centralization in the cryptocurrency space has long been a point of contention among enthusiasts and proponents of decentralized finance. The concentration of holdings in the top wallets of popular project tokens such as Polygon (MATIC) and Shiba Inu (SHIB) has raised significant concerns about the potential risks associated with high centralization. According to data shared
