BIS Issues Warning on Financial Risks From Crypto Investments
The Bank for International Settlements (BIS) has issued a warning to Central Banks regarding crypto-related financial ecosystem risks. In a recent paper, the Bank for International Settlement (BIS) warned emerging economies of the potential financial hazards of crypto-related investments. Concerns have been raised by the international financial institution regarding the ability of these emerging economies […]
Sam Bankman-Fried Refutes $100M Allegations of Fraud
New accusations intensify Sam Bankman-Fried’s legal struggle. The defendant pleads not guilty to allegations of $100 million and political influence. Former FTX CEO Sam Bankman-Fried pled not guilty to new charges that accuse him of funneling $100 million in stolen currency to influence U.S. politics. Tuesday, the courts of the Southern District of New York […]
Oman Launches its Own Crypto Mining And Data Center
The Middle Eastern nation of Oman has expanded its crypto footprint by establishing its own crypto mining operation and data center. The Oman Daily Observer reported a data hosting and cryptocurrency mining facility worth approximately $350 million was inaugurated in the Salalah Free Zone of Oman. As a special economic zone, this area is renowned […]
BIS Report – Crypto Increased Risks in Financial Markets
According to a new study published by the Bank for International Settlements (BIS), cryptocurrencies have failed to reduce financial hazards in less developed economies but have amplified them. The Consultative Group of Directors of Financial Stability (CGDFS) published a new report on cryptocurrencies on August 22 titled “Financial stability risks from crypto assets in emerging […]
Terra.money Shutsdown Website to Prevent Phishing Scams
Layer-1 blockchain technology Terra has temporarily frozen its website with the domain name Terra.money to protect users from hackers employing phishing schemes. “The terra(dot) money domains have been successfully frozen to prevent further user phishing scams,” Terra announced on X (formerly Twitter) on August 22. A comprehensive resolution is still in progress. Until the foundation […]