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America's largest banks reported a combined $18.9 billion in losses on bad loans in Q2 2022, a steep increase from previous quarters. JPMorgan Chase, Capital One and other major lenders saw loan "charge-offs" rise 75% versus last year as interest rate hikes cause more borrowers
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Central bank digital currencies (CBDCs) are expected to see massive growth, with transactions increasing 260,000% between 2023 and 2030 according to one report. But will CBDCs provide convenient digital money or increase government surveillance? 105 countries are exploring CBDCs in 2023, but only a few have fully implemented them
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Parallel, a sci-fi gaming ecosystem, has seen its PRIME token double in value since the July 31st beta launch of its flagship digital trading card game. The price increase comes as Parallel finally begins to see rewards for years of effort, according to crypto educator DeFi Dad. He told The
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API3, a leading oracle data provider in the crypto sector, is launching a new phase for its decentralized API (dAPI) project. This next stage introduces managed aggregated data feeds for dAPI users. Oracles bring real-world data onto blockchains to power smart contract functionality. But typically, oracle providers rely on a
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Shytoshi Kusama, the anonymous lead developer behind meme coin project Shiba Inu, delivered an ambitious keynote speech at the recent Blockchain Futurist Conference in Toronto. His talk, titled "Dear Humanity," laid out a sweeping vision for the cryptocurrency industry's potential global impact. Kusama acknowledged the world&
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An anonymous cryptocurrency whale recently moved approximately $40 million worth of Shiba Inu (SHIB) tokens after holding them for just one day, according to data from the Ethereum blockchain. On August 17, a transaction of 4.65 trillion SHIB, worth around $40 million at current prices, was sent from one
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Polygon's zero-knowledge rollup, zkEVM, has reached new highs across several metrics five months after its mainnet launch in March 2023. However, competition from other emerging zk-rollups has been stiff. According to Polygon's team, zkEVM has seen impressive organic growth. Its total value locked (TVL) recently hit
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Cryptocurrency exchange Coinbase has started a new initiative called the "Stand with Crypto Alliance" to encourage crypto supporters to directly engage with U.S. lawmakers. The campaign has already attracted over 54,000 sign-ups since launching in mid-August. The goal is to foster communication between crypto advocates and
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The recent cryptocurrency market crash has dealt a serious blow to Cardano (ADA), with holder profitability dropping to the lowest levels on record. 91% of ADA Holders are in the Red According to data from on-chain analytics firm IntoTheBlock, 91% of Cardano holders are currently underwater on their positions as
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The US Securities and Exchange Commission (SEC) has filed a new motion seeking certification for an interlocutory appeal of two critical rulings in its ongoing legal battle against Ripple Labs. crypto-industry">Appeal Could Impact Wider Crypto Industry The SEC is requesting permission to appealJudge Torres' findings that
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The decentralized stablecoin sector continues to experience strong growth, with two leading protocols already bumping up against their debt ceilings less than two months after launching. Spark Protocol Users Max Out $200M Limit Spark Protocol, a lending market forked from Aave by MakerDAO, has seen its users borrow the maximum
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OpenSea, the largest NFT marketplace, announced plans to disable its on-chain tool for enforcing creator royalties across platforms. Known as Operator Filter, the code snippet was designed to restrict NFT sales to only marketplaces enforcing fees. But adoption issues and creator concerns led OpenSea to decide shutting it down starting
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The Mantle decentralized autonomous organization (DAO) community is engaged in heated debate regarding whether to allow the collapsed FTX exchange to convert its BIT tokens worth $43 million into Mantle's native MNT tokens. This conversion is part of Mantle's broader token migration process unifying the project&
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Aerospace firm SpaceX reportedly wrote down the value of its Bitcoin holdings by $373 million in 2021 and 2022, suggesting the company may have sold all or most of its cryptocurrency assets. According to an August 17th report in The Wall Street Journal, SpaceX recorded significant losses on its balance
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The Federal Reserve has announced an enforcement action against Farmington State Bank, a Washington-based institution tied to the collapsed cryptocurrency exchange FTX. The Fed says Farmington improperly changed its business model in 2022 to pursue digital asset activities without proper approval. This led to the bank receiving around $11.5
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Tether, the company behind the popular USDT stablecoin, announced this week it will stop issuing new tokens on the Bitcoin blockchain. The move effectively ends one of the first ever stablecoins created - Bitcoin Omni Layer Tether - launched all the way back in 2014. While existing USDT tokens on