a month ago 4 min read

Daily Coin Journal


Russia's Sberbank Launching ETH-Based DeFi Platform in May, Reports Interfax

The state-owned financial services firm Sberbank, located in Moscow, intends to introduce a decentralized finance application, according to a report from the news source Interfax. According to Konstantin Klimenko, the product director for Sberbank's blockchain laboratory, the platform is presently undergoing closed beta testing.


Binance Introduces Decentralized Web3 Storage BNB Greenfield

The community developer teams from Amazon Web Services, NodeReal, and Blockdaemon are helping to maintain the testnet of the planned Web3 infrastructure, which was developed by the BNB Chain core team.

In its latest BNB Greenfield white paper, BNB Chain, a blockchain platform introduced by cryptocurrency exchange Binance, expressed interest in creating a blockchain-based Web3 infrastructure.


Charlie Munger of Berkshire Hathaway Calls for US Crypto Ban

Charlie Munger, vice chairman of Berkshire Hathaway (BRK) and a fervent opponent of bitcoin, has urged on the United States to follow China's lead and outlaw cryptocurrencies.

Since cryptocurrency assets aren't securities, commodities, or currencies, Munger said in a Wall Street Journal opinion post that there is a regulatory void to blame for the emergence of cryptocurrencies.


Luxury Rehab 'The Balance' Offers Crypto Addiction Therapy

Don once invested as much as $200,000 (£164,700) every week in bitcoin exchanges.

He had sporadic sleep and would get up early to check the stock market and the value of his wealth.


Euro-Zone Inflation Dips 3rd Consecutive Month From Falling Energy Prices

January saw a considerable decline in energy prices, which contributed to the euro zone's inflation declining for a third consecutive month.

According to preliminary figures released on Wednesday, the euro zone's headline inflation rate was 8.5% in January. The rate was recorded at 9.2% in December.


Visa Targets Stablecoin Settlements

According to a presentation made by the president of the business's cryptocurrency division at StarkWare Sessions 2023, payment company Visa is attempting to develop "muscle memory" around settlements with intentions to enable users to convert digital assets to fiat currencies on its platform.


Reconsider Crypto Ban: Ex-Advisor of Bank of China

The idea of lifting the cryptocurrency ban has started floating in China as a former central bank official has called the country to review its stringent crypto restrictions.

Former member of the People's Bank of China (PBoC) Monetary Policy Committee Huang Yiping thinks the Chinese government should reconsider whether the ban on cryptocurrency trading is long-term viable.


Regulator Directs Paxos to Halt BUSD Issuance

As the government crackdown on the cryptocurrency industry grows, New York officials ordered a business to cease creating one of the largest dollar-pegged coins.

Paxos Trust Co., which creates and sells Binance's dollar-pegged cryptocurrency, was ordered by the New York Department of Financial Services to halt producing new BUSD tokens, according to a statement from Binance. The cryptocurrency exchange also stated that Paxos will continue to oversee product redemptions.


US Inflation Down to 6.4%

Near the close of last year, U.S. inflation began to decline. The tendency was confirmed by the recent improvement in the Consumer Price Index statistics. In November, inflation decreased to 7.1%, which was less than anticipated. In December, it decreased even further, to 6.5%. The streak has been restarted.


Tether Mints 1 Billion USDT Amidst Bitcoin Price Drop and Binance USD Trouble

Whale Alert has revealed that stablecoin issuer Tether has created an additional billion USDT. Immediately following the Binance USD (BUSD) controversy, which according to reports, the Securities and Exchange Commission is attempting to get an unregistered securities recognized.

The minting of a billion USDT is a permitted but unissued transaction, Tether's CTO Paolo Ardoino quickly declared to the public. According to Ardoino, this sum will be utilized as inventory for chain swaps and issuance requests in next seasons.


A Planned SEC Enforcement Action was Denied by Circle

Circle, the company behind USD Coin (USDC), has refuted allegations that it been served a Wells Notice regarding its stablecoin tethered to the US dollar.

On February 14, Fox Business reporter Eleanor Terrett stated in a since-deleted tweet that the U.S. had ordered Circle. Because USDC is an unregistered securities, the Securities and Exchange Commission (SEC) has ordered the selling of the stablecoin to stop.


The Opening of an El Salvador Bitcoin Embassy in Texas

El Salvador is establishing a second Bitcoin Embassy in Texas after establishing its first one in Lugano, Switzerland.

Milena Mayorga, the ambassador of El Salvador to the United States, tweeted that she and other El Salvadorian delegates met with Joe Esparza, the deputy secretary of the Texas government, during the meeting.


Government of South Sudan Prohibits Transactions in US Dollars

According to a source, the government of Salva Kiir Mayardit has barred transactions based in U.S. dollars as part of efforts to revive South Sudan's war-devastated economy. According to reports, the government ordered that all local payments be made in South Sudan pounds rather than dollars (SSP).

The South Sudanese government's action will probably have a severe effect on importers' and regional banks' business operations there, according to an article in The East African.


In a hearing on "Crypto Cash," the U.S. Senate Banking Committee Seeks Regulatory Clarity

Members of the Senate Banking Committee listened to both crypto aficionados and evangelists during a hearing set for Valentine's Day in an effort to comprehend the recent "crypto meltdown" while promoting new, stricter regulatory measures to protect American consumers. This follows a spate of missteps that have dogged the cryptocurrency sector over the past year, beginning with the Terra (LUNA) fiasco.


Elon Musk's DOGE-themed Tweet Causes Canine Cryptocurrency Prices to Increase

Following Twitter CEO Elon Musk's posting of a meme featuring his dog Floki acting as the new Twitter CEO, traders are pushing all things Shiba Inu.


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Thanks for reading,

J.K. Tan
J.K. Tan
A crypto enthusiast who thinks that cryptocurrencies encourage people to act as their own banks. Fascination for blockchain and Web3 projects is his A-game.
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