Category: News

New ‘Pepe the Frog’ Crypto Token Becomes Sixth Largest Meme Coin by Market Cap – Altcoins Bitcoin News

Jamie Redman

A new token named after Pepe the Frog, the infamous meme, and cartoon character created by Matt Furie, has entered the meme coin economy. The token is called pepe (PEPE), and at the time of writing, it has become the sixth-largest meme coin asset in terms of market capitalization, valued at just over $130 million. However, amidst the fast rise, both the website coinmarketcap.com and the Web3 security startup Gopluslabs have warned that the contract owner may have the ability to modify the transaction tax and blacklist function. PEPE Market…

Crypto financial services provider Januar receives full Danish payments license

Derek Andersen

Danish startup Januar announced April 19 that it has received a Payment Institution License from the country’s Financial Supervisory Authority (DFSA). The license will allow Januar to conduct business in the 30 European Economic Area markets, whereas it only served Danish companies under its previous limited permission. Januar provides International Bank Account Number (IBAN) business accounts to crypto businesses. Linking to IBAN infrastructure gives crypto companies access to compliant fiat banking services, such as payments and settlement, which crypto companies may have trouble finding otherwise. Januar co-CEO Simon Ousager said:…

BIS, Bank of England concludes blockchain int’l settlements pilot

David Attlee

The Bank of England and the Bank for International Settlements (BIS) Innovation Hub London Center have tested a distributed ledger technology-powered settlements system between the institutions. The insights of the project will be used by the Bank of England in its real-time gross settlement (RTGS) system. On April 19, BIS published a report about the joint pilot project with the Bank of England called Project Meridian. According to the 44-page document, the banks have successfully purchased houses in Wales and England through the synchronization network using distributed ledger technology (DLT).…

Israel’s central bank says CBDC could be issued if stablecoin use increases

Martin Young

The Bank of Israel says it’s preparing an action plan for the potential issuance of a central bank digital currency (CBDC),though a formal decision has yet to be made. On April 17, the Bank of Israel Steering Committee on the Potential Issuance of a Digital Shekel outlined possible scenarios for the development and deployment of a CBDC, a digital shekel called “SHAKED.” It provided several scenarios that could lead to the issuance of a digital shekel, among them was increased stablecoin activity. Increased adoption of stablecoins may “impair the payment…

Tether Stablecoin Sees 22% Growth in 2023 Despite Dollar-Pegged Token Economy’s Contraction – Altcoins Bitcoin News

Jamie Redman

Since January 2023, the number of tether stablecoins in circulation has grown from 66 billion to the current 80.9 billion, representing growth of more than 22% this year. Tether’s growth is approaching the high of $83 billion in stablecoins in circulation that the project saw almost a year ago, in May 2022. Tether Supply Is Nearing Its All-Time High The stablecoin market has recently contracted and is currently hovering around $131.94 billion. The decrease in the stablecoin market can be attributed to several dollar-pegged coins that have reduced their token…

Bhutan’s sovereign investment arm quietly invests millions in crypto: Report

Ezra Reguerra

The Kingdom of Bhutan’s sovereign investment arm estimated to manage around $2.9 billion in assets has placed millions of dollars in cryptocurrencies and was a customer of bankrupt crypto firms BlockFi and Celsius.  Druk Holding and Investments (DHI), a commercial arm of the royal government of Bhutan, has grown a crypto portfolio without disclosing it to the public according to a report released by Forbes. The funds were brought to light following the crypto contagion last year when companies like Celsius and BlockFi filed for bankruptcy. User Deposit and Withdrawal…

With Close to 10 Billion Stablecoins Redeemed, BUSD’s Supply Drops to Lowest Level Since April 2021 – Altcoins Bitcoin News

Jamie Redman

Statistics recorded on April 15, 2023, show that the number of coins in circulation for the stablecoin BUSD dropped below the 7 billion range to 6.68 billion, marking the lowest number of BUSD in circulation since April 2021. Furthermore, data indicates that the supply of BUSD has shrunk by 19.8% over the past 30 days. BUSD Stablecoin Supply Hits Lowest Point in Two Years BUSD, which was once among the largest stablecoins, remains the third-largest USD-pegged token. However, on February 13, 2023, Paxos announced that the New York State Department…

Circle exec to join US Congressional committee hearing on stablecoin payments, legislation

Arijit Sarkar

The United States House Committee on Financial Services will hold a hearing on April 19 to discuss stablecoins’ position as a means of payment and whether the ecosystem needs supporting legislation. The committee issued a memorandum to announce an upcoming hearing titled: “Understanding Stablecoins’ Role in Payments and the Need for Legislation.” The hearing will include information collected by various federal government agencies over the last year. List of individuals testifying at the upcoming House Financial Services Committee hearing. Source: house.gov Participants testifying at the hearing include Circle’s chief strategy officer and…