The Central Bank of Russia (CBR) has identified 146 financial pyramid schemes in only six months this year. Fraudsters often lure people with weak financial literacy into investment scams linked to cryptocurrencies or crypto mining operations. Pyramid Schemes Thrive Amid Rising Investment Demand, Bank of Russia Says The number of financial pyramid scams uncovered by…
Cryptocurrency is a digital currency that is protected by encryption, and new coins or tokens are created by solving complex mathematical equations. However, for investors, cryptocurrency is an asset that can be bought and sold because its value is not fixed in relation to fiat or traditional currency. The market’s high volatility has resulted in…
Although it’s possible to draw comparisons between almost any two blockchain development platforms, comparing Ethereum with Polkadot is almost an inevitability. Not only on the technical level – they use a comparable architecture and proof-of-stake consensus to achieve scalability – but because Vitalik Buterin and Dr. Gavin Wood also have a shared history in Ethereum.…
The new digital yuan, currently undergoing trials, can help to increase the international usage of China’s national fiat, experts have stated. As the renminbi (RMB, CNY) is becoming one of the world’s most important currencies, the People’s Bank of China is planning to conduct cross-border tests with the yuan’s digitized version, the e-CNY. Digital Yuan…
The Ghanaian Vice President, Mahamudu Bawumia, has implored African governments to start exploring digital currencies as such alternatives have the potential to enhance intra-African trade. In addition, such digital currencies allow African countries to carry out all cross-border payments smoothly, the leader explained. Ghana Government Backing for CBDC According to a report, Bawumia made these…
Bitcoin bulls control Friday’s $1.7B monthly options expiry Bitcoin’s surge above $40,000 boosted the bulls’ advantage in this month’s $1.7 billion options expiry. On Friday, July 30, a total of 42,850 Bitcoin (BTC) option contracts ($1.7 billion) are set to expire. This might be the first time since the May 21 weekly expiry that bulls…
