The collapse of numerous major crypto ecosystems in 2022 revealed the urgent need for revamping the way crypto exchanges operate. Ethereum (ETH) co-founder Vitalik Buterin believed in exploring beyond “fiat” methods to ensure the stability of crypto exchanges, including technologies such as Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (ZK-SNARKs).  Following a discussion with angel investor Balaji Srinivasan and crypto exchanges such […]

One of the biggest factors differentiating Bitcoin (BTC) from fiat currency and most cryptocurrencies is the hard limit of 21 million on its total circulating supply. However, the demise of numerous crypto exchanges over the last decade has permanently taken out at least 5.7% (1.2 million BTC) of the total issuable Bitcoin from circulation. The lack of clarity around a […]

Cryptocurrency investment product provider Grayscale Investments has refused to provide on-chain proof of reserves or wallet addresses to show the underlying assets of its digital currency products citing “security concerns.” In a Nov. 18 Twitter thread addressing investor concerns, Grayscale laid out information regarding the security and storage of its crypto holdings and said all crypto underlying its investment products […]

While crypto exchange FTX stole the limelight from other fallen ecosystems, South Korean authorities continue their efforts to bring closure to the victims of the year’s first crypto crash — Terraform Labs. Nearly six months after the Terra (LUNA) blockchain was officially halted, South Korean authorities froze approximately $104.4 million (140 billion won) from co-founder Shin Hyun-seong based on suspicion […]

Nickel Digital Asset Management is not the only company feeling the effects of FTX’s collapse and bankruptcy. NFT protocol Metaplex also laid off “several members of the Metaplex Studios team” due to the “indirect impact” from the collapse of crypto exchange FTX. The co-founder and CEO of Metaplex Studios, Stephen Hess, shared in a thread on Twitter: “While our treasury […]

United States Commodity Futures Trading Commission (CFTC) commissioner Summer Mersinger suggested that the time to act on cryptocurrency regulation may have arrived. Speaking at the Texas Blockchain Summit on Nov. 18, Mersinger considered what it may take for effective crypto regulation in the United States. “Lately it’s probably been 70-80% of what we talk about,” Mersinger said of crypto. “We […]

The Cardano ecosystem could have its first fully fiat-backed, regulatory-compliant stablecoin before the end of Q1 2023. According to Emurgo, the official commercial arm of the Cardano blockchain, the stablecoin will be called USDA and shall be pegged on a 1:1 ratio with the US dollar. “The introduction of a fully fiat-backed, regulatory-compliant stablecoin is the next step in realizing […]

German fintech firm Caiz Development is working to establish a new Sharia-compliant crypto and blockchain enterprise that will allow unbanked or underbanked people in the Middle East take advantage of digital assets. Caiz Development Is Helping the Middle East Get Acquainted with Crypto The goal is to ensure the platform is fully compatible with those who follow the Islamic religion. […]