Non-bank deposits, including crypto businesses, aren’t FDIC insured
FDIC claimed that while deposits at banks with insurance were protected up to $250,000, there was no equivalent protection for deposits made with cryptocurrency businesses. The Federal Deposit Insurance Corporation (FDIC) of the United States has released a statement warning the public that it “does not protect assets created by non-bank businesses, such as cryptocurrency […]
Soccer team in Argentina signs its first crypto player despite recession
The economic limits in Argentina have permeated the sports world, as seen by the first local football player to be signed using crypto, which made national news. The likelihood that Argentina footballers will be recruited by foreign teams decreases as the difference in currency rates between the US dollar and Argentinean pesos widens. Depending on […]
Dubai grants first MVP license to FTX subsidiary FZE
The first Minimal Viable Product (MVP) license for Dubai was given to FZE on Friday, enabling full operation of the exchange in the area. The operational license was granted to FZE by Dubai’s Virtual Asset Regulatory Authority (VARA) under the MVP program, which is, in the words of Helal Saeed Almarri, director general of the […]
Cardano Vasil hard fork will be delayed for several weeks again
It was initially planned for the Vasil hard fork to launch in June, but the Cardano blockchain development teams have emphasized a seamless network transition. The Cardano (ADA) Vasil hard fork has been postponed one more as developers working on the Cardano blockchain strive for a seamless network update after failing to go live last […]
Solana-based stablecoin NIRV sees an 85% decline following $3.5M attack
The price of Nirvana Finance’s stablecoin NIRV and native token ANA both dropped by almost 85% as a result of the $3.5 million flash loan assault. Following a hack on the adaptive yield protocol Nirvana Finance on Wednesday, the Solana-based algorithmic stablecoin NIRV has now become the most recent stablecoin to collapse, falling 85% from […]