Shapeshift CEO and founder Erik Voorhees recommended the MakerDAO community take precautionary measures after the U.S. Treasury sanctioned Tornado Cash. Specifically, Voorhees advised MakerDAO users to remove their USDC collateral and convert the funds into another stablecoin. But he stopped short of advocating a more censorship-resistant choice. Dear @MakerDAO $DAI community… you should start unwinding…
Circle’s USDC has “blacklisted” all Ethereum addresses owned by Tornado Cash listed in the US Treasury Department’s sanction against the protocol. A Twitter bot named USDC Blacklist, which scrapes the blockchain for USDC blocklists, highlighted the issue as it tweeted multiple times through Monday after the sanction was issued. The USDC “Blacklist Policy” states that…
Bitcoin (BTC) posted a local top of $24,600 on July 30 before closing three consecutive daily red candles. Peak to trough losses over this period came in at $1,800, or 7%. Today, August 3, sees some reprieve, as buyers give rise to a 3% upside swing. As of press time, BTC was trading at $23,300,…
According to a new blog post released by the White House, an economic recession can no longer be quantified by its traditional definition of “two successive quarters of falling real growth”. What’s there in a name? As the global macroeconomic landscape continues to deteriorate, US GDP figures that are due later this week – and…
Indian central bank officials have renewed efforts to ban crypto. Finance Minister Nirmala Sitharaman supported the motion during a parliamentary meeting on July 18, saying digital assets have a “destabilizing effect” on the “fiscal stability of a country.” Indian officials project indecisiveness The Reserve Bank of India (RBI) first attempted to ban crypto in April…
The European Central Bank (ECB) blasted Proof-of-Work (PoW) mining as a significant climate change risk in research bulletin published in July. As expected, the report specifically mentioned Bitcoin. However, it also raised issues with Ethereum, despite its transition to a Proof-of-Stake (PoS) consensus mechanism. Researchers compiled estimated carbon footprint data on the above tokens and…
A petition to the European Parliament for the creation of a crypto compensation fund is gathering steam following recent scandals, in particular happenings at Celsius Network. The petition organizer, Jonathan Levy, wrote that the EU must create a fund paid for by “taxing” transactions to provide restitution for victims of crypto crime. Although Celsius is…
Argentina’s Economy Minister Martin Guzman announced his resignation on June 3, pushing citizens to seek hedges in crypto and causing the price of Tether to gain 6.6% against the Argentian peso, Bloomberg News reported. Guzman’s resignation comes at a time when the already high inflation saw a new surge. Following his decision to step down,…
Central African Republic President Faustin-Archange Touadéra, on June 27, announced the country’s crypto hub “Sango” launch date. The crypto hub will go live on July 3 during a conference organized to mark its launch. With #Bitcoin as #legaltender & inspiration, our country opens a new chapter in its inspiring journey towards a brighter future via…
According to Bitcoin Archive, in a bid to boost the local Soyapango economy, Salvadorian entrepreneurs operating in the region can claim a $100,000 Bitcoin grant. 💥EL SALVADOR: $100K #Bitcoin grant given to entrepreneurs in the municipality of Soyapango to boost economy of the area. 🙌 — Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) June 26, 2022 Soyapango is…