On May 11, Ethereum developers reported that the Beacon Chain was experiencing problems confirming transactions. Although new blocks were able to be proposed, an unknown issue prevented their finalization. The outage lasted around 25 minutes. A similar issue took place on May 12, preventing block finalization for over an hour. Continue Reading on Coin Telegraph More
United State’s Florida Governor Ron DeSantis signed a bill restricting the use of central bank digital currencies (CBDCs) in the state. The new law prohibits the use of a United States federal CBDC as money within Floridas Uniform Commercial Code (UCC). It also bans the use of CBDCs issued by foreign governments and calls on other states to use their commercial codes to institute similar prohibitions. DeSantis said he was spurred into action by White House studies of the new financial technology. The law takes effect on July 1.Continue Reading on Coin Telegraph More
“I think they are moving along, hard to tell. We have not reached the crunch point yet,” Biden told reporters at Joint Base Andrews.”We’ll know more in the next two days,” he said.Biden is expected to meet with Republican House Speaker Kevin McCarthy and other congressional leaders early next week to resume negotiations.The leaders had canceled a planned meeting on Friday to let staff continue discussions.Aides for Biden and McCarthy have started to discuss ways to limit federal spending as talks on raising the government’s $31.4 trillion debt ceiling to avoid a catastrophic default creep forward, Reuters has reported.The Treasury Department says it could run out of money by June 1 unless lawmakers lift the nation’s debt ceiling. More
Meme tokens have been a hot subject in crypto trading, but the trend seems to have lost momentum. According to market intelligence firm Kaiko, the daily trading volume for meme tokens has decreased significantly from over $1 billion to around $500 million.The market intelligence firm noted that this 50% decline resulted from traders taking profits and moving on from meme tokens.A graph shared by Kaiko suggested that the most popular meme token, Dogecoin (DOGE), took the worst hit in terms of daily trading volume. DOGE’s trading volume nearly reached $1.5 billion from late March to early April. However, it has fallen below $0.5 billion early this month. However, it appears that the DOGE hysteria has only been passed to the newly launched meme coin, PEPE. Early this month, PEPE volume crossed $1 billion, and it currently has a 24-hours trading volume of $996,129,278, according to the market tracking website, CoinMarketCap.While the launch of PEPE cornered the interests of investors from DOGE, Shiba Inu (SHIB), on the other hand, has maintained a relatively stable daily trading volume since February. SHIB’s daily trading volume has not exceeded $0.5 billion in the last ten weeks.Recently, the CEO of Into The Cryptoverse, Benjamin Cowen, warned about the proliferation of meme coins, stating that they are flooding the market to enrich their founders. Cowen dismissed the “strong community” narrative and claimed that most of these coins are created by the same group, who pump and dump them until they are no longer profitable.Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.The post Meme Coin Market Crashes 50% from $1B After Traders Take Profit appeared first on Coin Edition.See original on CoinEdition More
Binance is joining some of its smaller competitors in the Canadian exodus brought on by the introduction of rules by the Canadian Securities Administrators (CSA) on Feb. 22 that required them to file new preregistration undertakings and adhere to added restrictions. Continue Reading on Coin Telegraph More
Binance has announced that it will wind down its operations in Canada due to the unfavorable regulatory climate in the country. The decision by the world’s largest crypto exchange to exit the Canadian market comes more than two months after the country’s top regulators unveiled a series of enhanced regulations for the crypto industry.Binance recently took to Twitter to share the latest development regarding its operations in Canada. The crypto exchange acknowledged the assistance from Canadian regulators in collaborating towards appropriate regulation for the country’s crypto industry in order to address its customers.The crypto exchange revealed that it served Canadian users despite Canada being a relatively small market, due to the sentimental reasons associated with its founder. Changpeng Zhao, the founder, and CEO of Binance, was born in China but has been a Canadian citizen for decades.Binance revealed that the major reason behind its withdrawal from the Canadian market was the Canadian Securities Administrators (CSA) Changes to Enhance Canadian Investor Protection, which was unveiled in February this year. It was essentially an overhaul of regulations aimed at enhancing investor protection. At the time, the Canadian regulator warned the crypto exchanges operating in the country that they would have to comply with the enhanced regulations, which included segregation of crypto assets held for Canadian users, prohibition of margin or other forms of leverage, and a ban on selling stablecoins without the CSA’s approval.“While we do not agree with the new guidance, we hope to continue to engage with Canadian regulators aimed at a thoughtful, comprehensive regulatory framework,” Binance stated. The exchange indicated that it may return to the Canadian market if regulators allow users to access a broader suite of digital assets in the future. The post Binance To Exit Canadian Market Due To Challenging Regulations appeared first on Coin Edition.See original on CoinEdition More
An emergency fund is a pool of money that you set aside to cover unexpected expenses or income loss. It acts as a financial safety net and can help one avoid debt or financial hardship in case of an emergency. The following traits describe an emergency fund:Continue Reading on Coin Telegraph More
The rumored AirDrop for upcoming Layer 2 solutions zkSync Era and StarkNet has propelled the projects’ network activities significantly. According to reports, the increasing network activities of both solutions are eating into the dominance of Polygon, the more established Layer 2 protocol in the DeFi sector.Source: ArtemisPolygon (MATIC) has dominated the Layer 2 space for several months with unmatched daily activity on its network. It remained the ‘go-to’ protocol for several DApps and DeFi projects entering the blockchain industry. Polygon’s impressive scalability, security, and transaction speed attracted many developers, leading to increased protocol adoption.Recent developments around the emerging zkSync Era and StarkNet Layer 2 networks have threatened Polygon’s dominance by eating into the latter’s user base and chopping off its daily activity numbers. Initial reports suggest that the zkSync Era and StarkNet plan to launch token airdrops have promoted a surge in daily activity on both networks.Understandably, the hype around token airdrops could increase the activity level in blockchain networks. However, the concern for Polygon and its users is the possible aftermath of the AirDrop event. There is a chance that the activity levels on zkSync Era and StarkNet would surpass that of Polygon after the networks’ launch.Polygon’s growth potential remains valid despite the competition from zkSync Era and StarkNet. The Total Value Locked (TVL) of Polygon’s zkEVM has grown significantly in the past few months. The blockchain network is also on the verge of upgrading with new developments.According to Polygon’s founder, Sandeep Nailwal, the zkEVM will grow significantly by deploying Safe, Chainlink Oracles, and other critical infrastructure. He noted that user experience would improve based on early developer feedback, while data compression would optimize cost.Nailwal did not rule out the possibility of a future airdrop by Polygon to match competing protocols. According to him, there is no rule that an existing token cannot do a massive AirDrop.The post zkSync Era and StarkNet L2 Solution Threaten Polygon’s Dominance appeared first on Coin Edition.See original on CoinEdition More
