Author: Dren.H

Turkey’s Central Bank progresses on digital lira, emphasizing interoperability, privacy, and exploring offline transactions in its latest report. The Central Bank of the Republic of Turkey (CBRT) has made significant progress in the fintech domain by unveiling the evaluation report for the initial phase of its ambitious Central Bank Digital Currency (CBDC) initiative, the Digital Turkish Lira Project. Aimed at revolutionizing the financial landscape, this project marks a pivotal step towards the integration of digital currencies in Turkey’s economy. The report, initially released in Turkish and recently translated into English on February 19, offers a comprehensive overview of the project’s…

Michael Saylor commits to “forever” Bitcoin investment, seeing it outshine traditional assets with MicroStrategy’s strategy bolstering its value. In a recent discussion with Bloomberg on February 20, Michael Saylor, the Executive Chair of MicroStrategy, revealed his firm’s strategy regarding Bitcoin, emphasizing a continuous and “forever” investment in the cryptocurrency. Saylor’s stance on Bitcoin is clear; he sees no value in divesting from what he perceives as the leading asset in the digital currency space. His commitment comes in light of MicroStrategy’s significant profit from Bitcoin investments, nearing a $4 billion mark in unrealized gains. MicroStrategy, known for its business intelligence…

Binance to end support for certain leveraged tokens, urging users to convert or redeem by set deadlines. Affecting cryptocurrency traders globally, Binance, a leading crypto exchange, has announced its intention to discontinue several leveraged token offerings. This decision impacts tokens associated with major cryptocurrencies like Bitcoin, Ether, and BNB. Specifically, the services ending involve tokens paired with Tether (USDT), including BTCUP, BTCDOWN, ETHUP, ETHDOWN, BNBUP, and BNBDOWN. Important Dates and Actions for Users Binance has set a schedule for the phase-out of these leveraged tokens. Trading and subscription services for the affected tokens will halt on February 28 at 06:00…

Cathie Wood supports Tesla’s move to Texas and the leadership of Elon Musk against court rulings undermining shareholder rights. Tesla’s CEO Elon Musk has proposed relocating the company’s incorporation from Delaware to Texas. This decision comes in the wake of a court decision that nullified Musk’s substantial $56 billion compensation agreement. Cathie Wood, the CEO of Ark Invest and a shareholder in Tesla, has expressed strong support for Musk’s proposal. She criticizes the court’s decision for undermining the authority of Tesla’s shareholders and board, labeling it as fundamentally contrary to American principles and detrimental to investors. Shareholder Rights and Corporate…

Bitcoin mining difficulty hits record high of 81.73 trillion ahead of April’s halving, impacting miners and market stability. The world of Bitcoin mining has witnessed a milestone as the complexity involved in mining operations soared past the 80 trillion mark on February 16. This surge in mining difficulty, a critical measure of the effort needed to solve the cryptographic challenges in the mining process, signifies a notable increase in the network’s security and processing power. With the latest automated adjustment on February 15, experts anticipated a 6% rise in difficulty levels, a forecast that materialized and pushed the difficulty to…

OpenAI market valuation hits $80 billion, innovating with employee share sales and expanding AI technology development. OpenAI has seen its market valuation catapult to over $80 billion following a new agreement. This significant financial leap represents an almost threefold increase in the company’s worth in under a year, setting a new benchmark for the artificial intelligence sector. The San Francisco-based AI titan, renowned for its pioneering work in machine learning and artificial intelligence technologies, has taken an innovative approach to this valuation surge by opting for a tender offer instead of the traditional funding round. Innovative Funding Strategy Unlike typical…

Bitcoin ETFs attracted $2.2B in a week, with BlackRock’s leading amidst a surge in investor interest and regulatory shifts. In a remarkable week for Bitcoin exchange-traded funds (ETFs), the industry witnessed an unprecedented inflow of over $2.2B. This influx of capital from February 12 to 16 marks a significant milestone, setting a new record across the United States’ ETF landscape, which spans over 3,400 funds. Leading the charge in this financial revolution, BlackRock’s iShares Bitcoin Trust (IBIT) emerged as the frontrunner, securing a staggering $1.6 billion of the total inflows. BlackRock’s iShares Bitcoin Trust’s achievement is particularly noteworthy, as it…

VanEck pays $1.75M to settle SEC charges over undisclosed influencer marketing for its ETF launch. In a recent development, VanEck has consented to a $1.75 million settlement with the United States Securities and Exchange Commission (SEC). This agreement comes in the wake of charges related to the marketing strategies employed during the 2021 launch of a social media-centric exchange-traded fund (ETF). The SEC’s investigation uncovered that VanEck failed to fully disclose the involvement of a high-profile social media influencer in the promotion of the VanEck Social Sentiment ETF, which sought to capitalize on positive social media buzz and other data.…

The ECB is preparing a digital euro with enhanced privacy, strict eligibility for providers, and safeguards for financial stability. In a recent address to the European Parliament Committee on Economic and Monetary Affairs, Piero Cipollone, an executive board member of the European Central Bank (ECB), unveiled plans for the digital euro. Furthermore, he emphasized the ECB’s proactive approach in preparing for the digital currency’s launch, ensuring it surpasses private payment systems in privacy and security. Proactive Preparations for Launch The ECB is not waiting to kickstart its search for infrastructure providers essential for the digital euro, recognizing that delay could…

Crypto airdrops reward early users with tokens, offering opportunities across various projects from Starknet to Pixels and beyond. Airdrops serve as a key strategy for protocols to engage and reward their early adopters and contributors. These airdrops distribute protocol tokens directly to users, granting them a stake in decentralized governance while also providing the potential for financial gain. Although not every airdrop results in a windfall of tokens, history has shown that participants can amass significant earnings, with the value of these tokens potentially increasing over time. High-profile airdrops from platforms like Blur, Jupiter, and Pyth Network have set precedents,…