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The Central African Republic has passed a law creating a legal framework for cryptocurrencies, with a particular focus on Bitcoin. The legislation is designed to create a welcoming environment for the country’s financial sector while making money transfers more efficient. The Benefits of Bitcoin in Africa The Bill Governing Cryptocurrency in the Central African Republic was passed unanimously by the National Assembly on April 21st. It’s been entrusted to Mixed Commission on Economy, Finance and Planning/Equipment and Communications chairman Guy…

The much-anticipated Akutars collection became a nightmare for its developers, losing $34 million after its launch this weekend.  The incident occurred due to flaws in the Ethereum-based NFT project's smart contract, which resulted in freezing of assets.  An Expensive Irreversible Mistake? The development team behind the anticipated Akutars collection might have just experienced the biggest nightmare launch. While there are cases of devs rugpulling coins and absconding, this might just be the opposite. Barely a day after the Akutar launch,…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,840 trillion. Bitcoin is down by roughly 2% after a rollercoaster of a week. Ethereum lost almost 4% of its value over the past seven days. XRP decreased by nearly 10% this past week. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector lost over $2 billion from…

An aggrieved Trezor user has filed a class-action lawsuit against Intuit which is the parent company of Mailchimp. Trezor users previously reported phishing attacks as part of a breach of a Mailchimp newsletter database. Levinson v. Intuit Earlier this month, Trezor, a producer of hardware wallets, launched an investigation into phishing attacks targeting its users. This was due to a data breach involving Mailchimp's services. Alan Levinson, a Trezor user, reportedly lost $87,000 worth of cryptocurrency from his Trezor wallet…

The Doge foundation recently marked a momentous time in history, setting a new record that could set a precedent for other coins. The Doge team has now made the first dogecoin transaction without the use of the modern internet. After having rumored the development for a while, the team finally leveraged SpaceX Starlink. In a tweet yesterday, Doge coin Programmer, Michi Lumin, shared that he sent 4.2069 Dogecoins using "Doge Radio." According to him, there were two others receiving his DOGE…

Rap Musician Snoop Dogg will issue a group of digital Marijuana farms as Non-Fungible Tokens on RPG Metaverse Mobland. It will be a limited edition along with exclusive content from his son Champ Medici.  Although virtual cannabis cannot be enjoyed like its real counterparts, owners of the NFTs will expect gratification in the shape of rising prices. However, it is unclear if it will be possible to exchange the Non-Fungible tokens for real weed. Speaking about the idea behind this…

Binance has recovered $5.8 million worth of tokens stolen from Axie's Ronin Network late last month. In March, malicious hackers initially ripped off a total of about $600 million. This means more than 99% of the loot yet remains awol.  Binance Shows Support The hack of Axie Infinity's Ronin Network last month resulted in a loss of about 173,000 ETH and 25.5 million USDC. CZ, the CEO of Binance, said on Friday that the hackers, "Lazarus Group" distributed the stolen…

A government led by Pierre Poilievre would do more to make cryptocurrencies like Bitcoin more mainstream in Canada. The candidate promised he would "decentralize" the economy and lessen the power of central bankers. Canada launched a crypto-backed ETF in the past, and the crypto community in the country is very active. Many libertarian investors often say that cryptocurrency is an excellent way to get rid of government control over money. Bitcoin supporters say that it represents a valid strategy to…

The Compound Governance community has rejected a move to completely scrap the COMP rewards program. The community cited concerns that the move could possibly threaten the protocol's decentralization. Despite these concerns, it is interesting that Compound only narrowly escaped abandoning its rewards program.  Compound Debate Rewards Adjustments Compound Finance is a DeFi lending protocol that enables traders to borrow and lend crypto assets on the market. As a DeFi app, its users also possess COMP tokens for utility. COMP tokens…