News

Twitter has consented to pay a $150 million sanction to the US Department of Justice (DOJ) and the Federal Trade Commission (FTC). The payment is a settlement for an invasion of privacy charge by the US government. The complainant maintained that Twitter had released users' private information to help advert companies target customers. The Breach Explained Per a complaint on Thursday, the Social Media behemoth allegedly retrieved customers' cell numbers and email info under false pretenses. According to the charge, …

Jack Dorsey’s financial company Block has unveiled a survey from January examining top reasons that people don’t buy Bitcoin. The top reason, cited by 51% of respondents, was that they simply don’t understand it well enough. Conducted in partnership with Wakefield Research, the study surveyed 9500 people across 14 different countries. Besides the lack of knowledge, other common reasons for avoiding Bitcoin included cybersecurity risks (32%) and price volatility (30%). Among those that refused to buy Bitcoin despite sufficient knowledge,…

Lael Brainard – vice chairwoman of the Federal Reserve – showed support for a US CBDC at the House Financial Services Committee hearing on Thursday. She believes one could bring more efficiency to the financial system, but Republicans are staunchly opposed. Potential Need for a CBDC In advance of the hearing, Brainard issued a written statement discussing the pros and cons of a CBDC in the United States. When framing her argument, she first acknowledged the recent instability of private…

Several of the world’s major exchanges have declared their support for Terraform’s reintroduction of the Terra chain as Terra 2.0. Likewise, participants in the network responded positively to the latest in a string of revival strategies from CEO Kwon Do-Hyeong. Terra Revival Plan Receives the Green Light Algorithmic stablecoin UST’s depegging kicked off a series of events that led to the Terra ecosystem’s record collapse. Although most of the crypto-industry had written off the project, Do-Kwon relentlessly pursued its salvation.…

The popular DEX aggregator 1inch has entered a partnership with Travala.com to integrate 1INCH token into its platform. Holders will be able to book homes, hotels, airlines, and other activities using the governance token. According to a blog post from 1INCH, the partnership is meant to boost 1INCH token’s adoption and expand awareness of the network. Like other governance tokens, it allows for users to vote on the protocol’s parameters in a relatively decentralized fashion. It also expands its utility…

On Wednesday, the Beacon Chain – the core of the Ethereum 2.0 ecosystem – experienced a blockchain reorganization 7 blocks deep. That means that 7 blocks worth of its most recent transactions were effectively reversed on Wednesday. The Meaning of Blockchain Reorgs A blockchain reorganization occurs when nodes cannot agree on the canonical order of blocks. This can be caused by a number of factors, which differ between proof of work and proof of stake systems. Ethereum co-founder Vitalik Buterin…

Portugal’s parliament, Assembleia da República, has rejected two bills that sought to tax cryptocurrencies. Livre and Bloco, two Portuguese left-wing parties, proposed the bills. However, both parties had little representation in Congress. The ruling Socialist Party, which holds the majority of seats in the legislative assembly, has not yet submitted any bill. This news comes on the heels of Portugal’s Minister of Finance, Fernando Medina, announcing that cryptos will be subject to taxation soon. Explaining the need for crypto taxation,…

Terra co-founder Do Kwon’s proposal to hard fork the Terra network and rebuild its ecosystem has passed. The new chain – which will launch on May 27th – will not include a relaunch of the algorithmic stablecoin TerraUSD (UST). The Revival Plan Terra proposal 1623 passed on Wednesday with 65% of votes in favor, 13% against, and 21% abstained. As Terra explained over Twitter, the new “Terra 2.0” will be deemed the official “Terra” chain. Meanwhile, the old chain and…

Detractors call it an ill-judged scheme.   The Central African Republic (RCA) government prepares to usher in a Bitcoin investment hub. This is coming right on the heels of its bold move of accepting BTC as a legal tender last month. This step appears to be its latest attempt to provide a structure for Bitcoin adoption.  The new initiative, termed “Sango”, will help usher CAR into a “digital future of endless possibilities”, according to the government’s published document. Although “Sango”…