Finance News

Ethereum, as many know, is the world’s second-largest blockchain network. Ethereum reached a significant milestone by activating the highly sought Shanghai upgrade. This Shanghai update, Ethereum, was finalised and implemented on April 12, 2023. With this upgrade, Ethereum has transformed from a proof-of-work (PoW) network to a proof-of-stake (PoS) network. This milestone improves security and decentralisation while also consuming less energy. Several Ethereum Improvement Proposals (EIPs), including EIP-3651, EIP-3855, and EIP-3860, that are targeted at[…]

Elon Musk has retracted his previous criticism of a Twitter employee who was laid off and apologized for a “misunderstanding.” In his earlier remarks, the Tesla CEO had questioned the work performance of Haraldur Thorleifsson, known as “Halli,” stating that he had not been productive in the last four months. On Tuesday, Musk tweeted “I would like to apologize to Halli for my misunderstanding of his situation. It was based on things I was[…]

According to Baza, the co-founder Anton Shkurenko of the digital asset exchange Bitzlato was arrested in Moscow. A published post stated that French investigators were looking for the cryptocurrency entrepreneur because they believed he was guilty of extortion, data theft, and money laundering. The Russian-speaking market claimed that Bitzlato was taken down in January at an international law enforcement operation. According to reports, the coin trading site handled over $700 million in illegal cash[…]

U.S. regulators have continued to put more regulations on the crypto industry, and rumours have spread that their next destination is examining crypto staking. The Coinbase co-founder and CEO Brian Armstrong shared his view on Wednesday through a tweet. “We’re hearing rumours that the SEC would like to get rid of crypto staking in the U.S. for retail customers, I hope that’s not the case as I believe it would be a terrible path[…]

The Wall Street Journal reported Monday the upcoming launch of a digital wallet. The Bank of America, JPMorgan Chase, Well Fargo, and various other financial institutions behind the network Zelle are working together for the launch of a digital Zelle wallet.  The management of the wallet will be under the wings of a fintech firm, Early Warning Services (EWS). Which is the owner and operator of Zelle. Financial organizations, governmental agencies, and payment firms[…]

On Tuesday, the Thailand Securities and Exchange Commission (SEC) announced that they will release new regulations on the “management of digital wallets for custody of digital assets and keys.” The rules went into effect on Jan 16th.  The SEC of Thailand further noted that companies handling clients’ digital assets on their behalf must do the following. Create a system for managing digital wallets that will permit effective management of digital assets and keys and[…]

The more Ethereum prices rise, the more it effects the Ethereum gas fee spike. The price of Ethereum over the past two weeks has substantially increased. Ethereum is currently trading at $1,542 per unit. The cost of moving ether and ERC20 tokens has climbed along with Ethereum’s worth in US dollars.  Gas Fee Spike On January 1, 2023, ether gas fees were $2.93 per transfer, according to data from bitinfocharts.com. Today 18 days later,[…]

“CBDC The Right Transition” On January 14th, the Bank of Tanzania publicized that they had “adopted a phased, cautious and risk-based approach to the adoption of CBDC.” They detailed that their efforts to find “a suitable and appropriate use and technology for issuance of Tanzania shillings in digital form” will continue.  On the bank’s website, they stated they are choosing a more thoughtful approach to issuing digital currency after examining the pros and cons.[…]