As the local media reported on Thursday, July 21, the Financial Supervisory Commission sent a letter to the Association of Banks in early July, reminding the members of the Association of Banks that virtual assets are highly speculative and risky, and the cash flow is complex and challenging to monitor transactions effectively. Continue Reading on Coin Telegraph More
Curve DAO (CRV), the native cryptocurrency of Curve Finance, surged 22% on July 22. One of the notable reasons behind CRV’s performance is the fact that the founder of Curve Finance, Michael Egorov, recently confirmed that the company is getting close to launching its own stablecoin.This announcement succeeded in punching CRV above other leading DeFi protocols like AAVE and MakerDAO which also have their own stablecoins. Both failed at matching CRV’s run as they only saw 5.69% and 4.25% increases,respectively.
CRV / TetherUS 1D (Source: CoinMarketCap)After ending June at $0.66, the crypto struggled to gain any real traction in the market. The fact that CRV is currently trading at $1.46 serves as proof that the stablecoin announcement has a huge impact on its price movement.Although things are in CRV’s favor currently, it still has a lot of work to do to reach its all-time high of $60.50 which was reached in 2020.In addition, CRV also updated its status on the DeFi Total Value Locked (TVL). After the announcement of the stablecoin, CRV still leads at the top with 9.7% of market share. The exchange reserves of CRV have also increased by about 3% over the last 24 hours.When looking at the overall picture, CRV experienced a successful month as the crypto is up 92% for this period. Data from Santiment, a blockchain analysis firm, revealed that the CRV volume has been surging almost non-stop since July 20.Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.Continue reading on CoinQuora More
Bassi told Cointelegraph that while awareness of blockchain technology and security is on the rise, the use of blockchain within cybersecurity is still in its early days. “Awareness about cybersecurity and crypto, especially over the last five years, increased more than any time during my professional security career,” he said. Continue Reading on Coin Telegraph More
The prolonged crypto winter razed off the inflated floor prices across the NFT ecosystem, inadvertently changing investor sentiment and forcing users to rethink their long-term investment strategies. A study released by the National Research Group (NRG) revealed an openness among sports fans to learn about NFTs as they await a greener market.Continue Reading on Coin Telegraph More
Sunak’s resignation helped trigger a revolt that saw Prime Minister Boris Johnson agree to step down after a series of scandals. Members of the ruling Conservative Party will vote for a successor over the summer, with an announcement due on Sept. 5.Sunak led all rounds of the voting among Conservative Party lawmakers to reduce the field to two candidates.But it is foreign secretary Liz Truss who seems to have gained the advantage so far among the 200,000 members of the governing party who will ultimately choose the winner.Truss held a 24-point lead over Sunak in a YouGov poll of Conservative Party members published on Thursday.”Be in no doubt, I am the underdog,” Sunak said in a speech in Grantham, central England, the birthplace of former prime minister Margaret Thatcher.Truss would be only Britain’s third female prime minister after Thatcher and Theresa May while Sunak would be the country’s first leader of Indian origin.”The forces that be want this to be a coronation for the other candidate but I think members want a choice and they are prepared to listen,” he said.So far the focus has been on pledges, or non-pledges, to cut taxes, at a time when many people are struggling, along with defence spending and energy policy.In his speech Sunak, laid out his Thatcherite credentials, promising careful management of the economy before tax cuts. He criticised as arbitrary Truss’ pledge to increase defence spending to 3% of GDP by 2030.In an interview for Saturday’s Times newspaper, Sunak said he would put the government on a crisis footing on taking office. More
HONG KONG (Reuters) – China’s national medical insurance fund ran a small surplus last year, a healthcare authority said on Saturday, a rare disclosure following public concern that the fund was losing money due to massive COVID-19 tests.The fund received 2.88 trillion yuan ($441 billion) in income in 2021 while spending 2.4 trillion yuan, the National Healthcare Security Administration said in a statement on its website.The financial balance of the fund for national healthcare insurance, which provides basic coverage for most of China’s 1.4 billion people, is not usually disclosed.China’s nationwide COVID tests this year have triggered discussions online about the state of the fund, with some social media users fearing the tests were draining the fund and threatening coverage for people’s medical needs.Healthcare affordability is a sensitive issue in China. Costs are often high, with hospitals setting elevated prices for some drugs, and medical supplies and doctors known to over-prescribe. The government has started to reform price mechanisms for some medical and hospital services to curb excessive profits.”Overall, the fund breaks even, with a small balance. The scale of revenue and expenditure is in line with the level of economic development,” the authority said.The statement was responding to questions from some netizens on whether certain drugs were removed from the reimbursement drug list by some local governments because there was not enough money in the medical insurance fund, the statement said. “The answer is an absolute no,” it said.China’s national medical insurance programme, pending annual reshuffles, offers full reimbursement for some drugs on the list and partial reimbursement for others. More
The Central Bank of Indonesia has recently announced that it is working to issue a wholesale digital rupiah which is meant to be the only legal tender for digital transactions in the country. The regulator also added that it wants to ensure that the digital currency will be exchangeable across borders.The Bank of Indonesia has been studying the possible launch of its central bank digital currency (CBDC) since last year. Its main intention is to stay ahead of the global adoption of cryptocurrency as a payment method. This was revealed in a briefing recently by the Governor, Perry Warjiyo, wherein he stated that,Monetary authorities of other nations in the region have also been looking into implementing blockchain technology to improve transfers and settlements. These authorities include the Bank of Philippines and Australia, which are considering wholesale digital currencies as well.Bank of Indonesia is currently exploring technical options with counterparts and is working on the cybersecurity aspects of the digital rupiah. Once the CBDC is issued, it will be distributed to large banks and payment service providers, which will in turn sell the digital rupiahs to smaller banking institutions. This will then enable various retail transactions.Economist at Oversea-Chinese Banking Corp in Singapore, Wellian Wiranto, explained that banks will be included in the distribution to avoid the potential disintermediation of banks, especially in times of crisis, or the risk that households would prefer banking directly with the risk-free central bank rather than commercial banks.Continue reading on CoinQuora More
The billionaire tech entrepreneur took to Twitter (NYSE:TWTR) on Thursday to announce the initiative, revealing that he would auction the first piece from the collection on Magic Eden on the same day.Titled “Untranslatable Words,” the project will consist of 11 unique pieces of images created using DALL-E 2, an AI software that generates art based on written prompts. “Anyone can ‘right-click-save’ a DALL-E original and make infinite copies,” Hoffman wrote. “Enter: NFTs—a technology for making a digital asset provably scarce and unique. What happens when you combine two of the most significant technological changes? How might they come together?”As already mentioned, the first piece from the collection (mångata) was up for auction on Solana’s largest NFT marketplace Magic Eden. Mångata, a Swedish term for “the road-like reflection of the moon on water,” sold for a whopping 696.97 Sol on Friday night, or nearly $30,000.The second 1/1 piece from the collection (Volaye) is currently on auction on Magic Eden. As of press time, the highest bid was 50 SOL or $2,042.According to Hoffman, he plans to divide the funds generated from the NFT sales between several charitable causes as well as his team of collaborators. Meanwhile, NFTs that are not sold during the auction will be permanently destroyed.Until a few days ago, the commercialization of images generated via DALL-E 2 was prohibited by OpenAI. However, things have taken a different turn following the recent launch of a new beta version, which now grants creators the right to commercialize images.It is worth mentioning that Hoffman is a board member at OpenAI and has on several occasions written about DALL-E.“Visual expression can’t exist without technology. Great artists have always been great innovators. If groundbreaking artists like Da Vinci, Pablo Picasso, Georgia O’Keefe, and Frida Kahlo were alive today, I’m sure they’d be experimenting with DALL-E,” he wrote on LinkedIn on Wednesday.Continue reading on BTC Peers More
