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Defi Market Holds Steady at $49.31 Billion TVL, Lido Finance Leads the Pack With 24.82% Share

May 6, 2023 0

Since April 18, 2023, the total value locked (TVL) in decentralized finance (defi) has been fluctuating just below the $50 billion threshold. As of today, the TVL amounts to $49.31 billion, registering a 1% increase within the last 24 hours. TVL in Defi Shows Signs of Improvement, Yet to

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NFT Sales See Modest Increase of 1.46% to Reach $149M in Past Week

May 6, 2023 0

In the past week, sales of non-fungible tokens (NFTs) have increased by 1.46%, raking in a total of $149,312,180. However, while the number of NFT buyers has risen by 22.48%, the number of NFT transactions has decreased by 8.78% compared to the previous week. Azuki Emerges as Top-Performing NFT Collection This Week With 504.96% Sales […]

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Push to Use National Currencies in SCO Cannot Be Stopped, Russia’s Lavrov Says

May 6, 2023 0

Efforts to transition to trade in national currencies in the Shanghai Cooperation Organization (SCO) can no longer be stopped, according to Russian Foreign Minister Sergey Lavrov. During a meeting with his colleagues in India, Moscow’s top diplomat also discussed the similar initiative within BRICS. Sergey Lavrov Convinced SCO Countries Will Switch to National Currencies,

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Voyager Digital Provides Update on Reimbursement Plan for Creditors

May 6, 2023 0

Following Binance’s withdrawal from the Voyager Digital deal on April 25, the now-defunct crypto lender has recently informed creditors that they can expect to receive their initial cash and crypto distributions “within the next few weeks.” This update comes nine days after Binance’s decision to back away from the deal. Voyager Digital Expects Initial Distributions […]

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US-Based Bitcoin Focused Startup Fedi Raises $17 Million in Series A Funding Round

May 6, 2023 0

Fedi, the U.S.-based fintech which is led by the Nigerian bitcoin advocate Obi Nwosu, said on May 3 that it recently raised $17 million in a Series A funding round. The company said it will use the funds to help it launch what it called the “world’s first federated operating system.” Obi Nwosu said the […]

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Texas House Advances Gold-Backed Digital Currency Bill

May 6, 2023 0

Texas has taken its first steps in order to approve a bill that would issue a 100% gold-backed digital currency. If enacted as law, the bill, which is being discussed by a Texas House committee, would create an electronic system for users to transact and pay with this digital currency and would also allow them […]

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Saudi Arabia Joining BRICS Would Accelerate Chinese Yuan’s Use as Trading Currency, Says Professor

May 6, 2023 0

Professor Ashok Swain of Uppsala University’s Department of Peace and Conflict Research says Saudi Arabia joining the BRICS economic bloc “would accelerate the bilateral trading being conducted using the yuan as the trading currency. ” How Saudi Arabia Joining BRICS Could Boost Use of Chinese Yuan Ashok Swain, a professor of peace and conflict research at […]

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Fed Chair Warns of ‘Uncertain and Adverse’ Consequences of US Debt Default — ‘We’d Be in Uncharted Territory’

May 6, 2023 0

Federal Reserve Chairman Jerome Powell has warned of “highly uncertain and adverse” economic consequences if the U.S. defaults on its debt obligations. “No one should assume that the Fed can protect the economy from the potential short and long-term effects of a failure to pay our bills on time,” he further cautioned. Fed Chair Jerome […]

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Crypto Miners Pay Kazakhstan $7 Million in Taxes Amid Uncertain Future for Sector

May 6, 2023 0

The government of Kazakhstan has collected over $7 million in taxes this and last year from enterprises mining cryptocurrency in the country. The news comes amid growing regulatory pressure that is limiting the industry’s access to low-cost energy while increasing its tax burden. Miners Face Higher Expenses, More Challenges Under New Legislation Kazakhstan’s coffers have

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US Banking Crisis Looms as ‘Credit Tightening’ Mentions Reach Record Highs on Company Calls

May 5, 2023 0

Recent data reveals that while the banking industry in the U.S. is facing significant challenges, executives are mentioning “credit tightening” more frequently in earnings calls than during the 2008 financial crisis. Additionally, Google Trends data indicates a surge in search queries related to bank failures and crises. The findings suggest that the U.S. economy is […]