The Financial Stability Board (FSB), a global financial authority funded by the Bank for International Settlements, has released a new report on the financial stability risks associated with cryptocurrencies. Published on Wednesday, the 30-page study details a number of financial risks related to various types of cryptocurrencies as well as the industry sectors, including private digital assets like Bitcoin (BTC), stablecoins like Tether (USDT) and decentralized finance (DeFi). The report refers to some common-cited risks like a potential failure of certain stablecoins, which poses a significant threat to the stability of the entire crypto ecosystem due to the dominant trading …
Apart from high-profile athletes and politicians who are taking salaries in crypto, a study shows that the number of ordinary people who take some of their salaries in crypto has increased globally. Tracking trends that occurred in 2021, global hiring firm Deel published a report that noted a 10% month-over-month increase in people who want to be paid in crypto since November 2020. The data, pulled from over 100,000 contracts in over 150 countries, shows that Latin America (LATAM) and Europe, Middle East and Africa (EMEA) are on top of the regions that have employees taking a portion of their …
CoinShares data revealed on Tuesday, March 29, that institutional investments into cryptocurrencies are at the highest levels in three months, a sharp rise from the previous week which saw outflows of $47 million. The Digital Asset Fund Flows Report revealed that investment products for digital assets saw total inflows of $193 million last week, a level not seen since early December 2021. The last time investment levels were near the current figure was in the week ending on December 3rd, which saw $184 million worth of inflows. The fund flows had a big focus on Bitcoin (BTC), with just over …
Coming up with a good name is often one of the most challenging decisions one needs to make when launching a new service or business. Historical data of domain name purchases suggest that Satoshi Nakamoto, the creator of Bitcoin (BTC), had an alternate naming option in mind that did not make it to the whitepaper. Bitcoin.org, the website domain linked to the original Bitcoin, was created on Aug. 18, 2008, under AnonymousSpeech, a service in Japan that allowed users to buy domain names anonymously. Domain purchases under AnonymousSpeech around similar timelines revealed the creation of Netcoin.org on Aug. 17, 2008 …
The Nigerian government will reportedly soon pass a law that will recognize the usage of Bitcoin (BTC) and other cryptocurrencies as a means to keep up to date with “global practices.” The news was reported by Nigerian-based masthead Punch Newspapers on Dec. 18 following an interview with House of Representatives Committee on Capital Markets chairman Babangida Ibrahim. The report stated that if the Investments and Securities Act, 2007 (Amendment) Bill is signed into law it would allow the local Securities and Exchange Commission to “recognize cryptocurrency and other digital funds as capital for investment.” Ibrahim stressed the need for Nigeria …