With the emergence of cryptocurrencies, also came a corresponding rise in ransomware attacks. Several security loopholes in the cryptocurrency space in general, and smart contract platforms in particular, have come to light over the last few years. Once hailed as foolproof, blockchains have fallen fall prey to illicit activities, an assertion evidenced by the numerous scams and fraudulent activities that ensued.
Ex-SEC director William Hinman’s deposition about his 2018 speech has been approved by the court. The U.S. Securities and Exchange Commission’s (SEC) plea to quash Ripple’s request for Hinman’s deposition has been turned down by U.S. District Court Judge Sarah Netburn in a telephonic conference hearing today.
Jack Dorsey, the Twitter CEO and founder of Square Inc today announced the launch of TBD, a new open-source development program on top of the Bitcoin blockchain. The new venture by Square would be focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services.
The cryptocurrency markets continue to struggle, with Bitcoin showing no signs of improvement. In addition, there has been a big sell-off in the last 24 hours, indicating a price drop. Bears were also putting pressure on altcoins. While the market structure appeared to point to a possible bullish breakout, the price continued to tumble, making a breakout improbable in the near future.
Coinbase continues to support new crypto projects at a rapid rate, with the addition of Clover Finance (CLV) on Coinbase Pro.
Clover Finance is a blockchain operating system designed to bridge assets on various blockchains, making it easier to transact. The CLV token pays for transactions and enables votes for upgrades.
In a fresh development, Japanese regulators are now stepping up efforts to regulate digital currencies, especially stablecoins. In exclusive coverage, Reuters reports that the Japanese government is closely watching the sharp growth of the crypto market and remains worried about its impact on the country’s financial system.
The United Arab Emirates is looking to spearhead the march into a bold new world of central bank digital currencies (CBDCs). In a recently-launched roadmap, UAE’s central bank revealed its ambition to become one of the world’s top ten banks, and it believes a CBDC will play a significant role in its ambitious goal. The UAE has cemented its position as the Middle East’s leading hub for innovations.