Crypto

The Central Bank of the Bahamas (CBOB) today officially introduced its own central bank digital currency (CBDC), the “Sand Dollar.” This makes the Bahamas one of the first countries in the world to launch a CBDC beyond a pilot program. The information was shared during a webinar broadcast on Facebook via the dedicated Sand Dollar page. Today, the 386,000 inhabitants of the archipelago can create a digital wallet on their smartphone and carry out transactions. The entire Sand Dollar ecosystem…

Crypto-asset brokerage Voyager Digital has announced the addition of NBA Legend Tracy McGrady to its team in a press release today. McGrady to promote Voyager McGrady will take the role of advisor and help educate investors on the services offered by Voyager. He will also take part in a giveaway promotion that will be offering a total of $2 million to the general public. New accounts that register under this promotion will be eligible for a $5 bonus. Commenting on the…

The covid-19 pandemic is negatively affecting crypto market prices and disrupting many crypto conferences, as many industry players fell sick.  Ater Zhen Yu Yong announced contracting Covid-19 after attending the Ethereum Conference, six more cases from the conference got reported. In this case, seven great developers from the Ethereum Community contracted Covid-19 after participating in the Ethereum Conference that occurred on the 3rd to the 5th of March. After Zhen disclosed his Covid-19 status, he encouraged everyone from the Ethereum…

The Lightning Network is significantly dropping, as reported by the Defi Pulse on the 14th of March.  Charts are indicating the total value locked (TVL) in Lightning Network, revealed an over 2-day period drop. The figure dropped to $4.30m on the 13th of March, from $7.073m the previous day, and thus a decline of about 65% in a day. Bitcoin’s crash accelerated the most long-short liquidations on BitMEX in 16 months. Bitcoin dropped from $7200 to a low of $5675…

In a bid to help stop the spread of the  COVID-19 disease, The New York State Department Of Financial Services (NYDFS) has issued a directive requiring crypto firms to submit their COVID- 19 preparedness plans. In a letter written to the firms on Thursday this week, the regulator noted that the disease has adversely affected the economy. As such, firms needed to develop plans to mitigate risks emanating from the pandemic. The Bare Minimum  The letter cataloged the minimum that…

The coronavirus pandemic continues to ravage the global economy. Therefore, countries such as China and South Korea have instituted cash quarantines as strategic measures to mitigate its spread. This decision follows the World Health Organization (WHO) revelation that cash is a key medium for the virus'  transfer. Following The Trend Hungary is the most recent country to follow the trend. Local reports indicate that the country's central bank announced that it would be withdrawing billions of banknotes from circulation daily.…

Leading Defi firm MakerDao is reeling from the recent sharp drop in ETH price. Consequently, it will pursue an MKR auction in two days to plug a $4 million debt it has incurred during the crash. MakerDAO Community Vote However, the firm has called for a March 13 community vote before going on with the planned auction. According to the announcement the vote will decide on the necessary modifications occasioned by ETH's spectacular fall out.  The $4 million under-collateralized debts…

A court in the US has ruled in favour of the SEC in a case it had filed against ICOBox and its founder cum CEO Nikolay Evdokimov. Reports indicate that The District Court of the Central District of California granted the U.S. SEC’s motion for default judgement against the defendants. The case first came before the court in September of last year. In its filing, the SEC accused ICOBox of hosting an unregistered securities sale. Further, it alleged that the…

Bitcoin's continued decline is sending ripples through the crypto market. Yesterday, the coin registered its largest single-day crash in over ten months. The trading frenzy that ensued resulted in the crushing of BitMEX, the most profitable crypto-derivatives exchange.    BTC shed nearly 50% of its value to close at about $3,800, a decline that proved too much for the exchange's handling. Skew markets reports that BitMEX experienced liquidations of up to $863 million. Additionally, the platform saw the liquidation of…