Bitcoin traders have been betting for years the largest cryptocurrency by market cap could serve as an effective hedge against inflation. That's why they'll be watching Wednesday as the U.S. Labor Department publishes its Consumer Price Index (CPI) report for December.The widely followed CPI, scheduled for release at 8:30 a.m. ET (13:30 UTC), is expected to show an acceleration … [Read more...] about Traders Will Be Watching if December CPI Confirms Inflation at 4-Decade High
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PayPal reportedly confirms plans to explore the launch of a stablecoin
American fintech giant PayPal Holdings has reportedly confirmed its intent to launch its own stablecoin named PayPal Coin. The development of an in-house stablecoin was first discovered in the source code of Paypal’s iPhone app by developer Steve Moser.Confirming the evidence found on the PayPal app, Jose Fernandez da Ponte, PayPal’s SVP of crypto and digital currencies, told … [Read more...] about PayPal reportedly confirms plans to explore the launch of a stablecoin
Mexico Plans to Issue a CBDC by 2024, Government Confirms
The Central Bank of Mexico (Banxico) plans to launch a central bank digital currency (CBDC) by 2024, the Mexican government confirmed in a tweet on Wednesday evening.According to the tweet, which was written in Spanish, Banxico “will have a digital currency of its own in circulation” by 2024 as it considers of “utmost importance these new technologies and state-of-the-art … [Read more...] about Mexico Plans to Issue a CBDC by 2024, Government Confirms
Bent Finance confirms pool exploit, advises investors to withdraw funds
Staking and farming platform Bent Finance joins the list to become the sixth crypto establishment to get hacked in December. The acknowledgment of the attack was followed by requesting investors to withdraw their pool funds and disabling the reward claims on the compromised platform. Bent Finance first realized the exploit on Monday at roughly 8:55 PM EST, a timeline when the … [Read more...] about Bent Finance confirms pool exploit, advises investors to withdraw funds
NFTs will not be regulated in crypto-friendly Korea, the ministry confirms
The Financial Service Commission (FSC) of South Korea has restated in a public statement today that non-fungible tokens (NFTs) are not virtual assets and hence will not be regulated.The confirmation to keep NFTs unregulated came after a review of the Financial Action Task Force (FATF) in the US. The guidance report issued by FATF states that “NFTs or crypto-collectibles based … [Read more...] about NFTs will not be regulated in crypto-friendly Korea, the ministry confirms