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As per the Bank of Korea, citizens will only be able to use digital won to buy selected goods. South Korea is gearing up to launch its first pilot of a central bank digital currency (CBDC) with 100,000 citizens in late 2024, the South China Morning Post reports. The pilot , which is a joint effort of the Bank of Korea, Financial Services Commission and Financial Supervisory Service, will allow selected citizens to buy goods with digital won for three months. However, participants of the pilot won’t be able to use CBDC solely for its designated payment purposes, the report notes. Other payments, including personal remittance, will not be permitted either. You might also like: South Korean exchanges double market share in 2023 With the pilot, the South Korean authorities want to evaluate the feasibility and effectiveness of CBDC. To do this, the central bank will collaborate with the Korea Exchange, the country’s sole securities exchange operator, to integrate the ...

Solana (SOL) gained 6.24% in the last 24 hours, extending gains.  Amid this, investors are exploring Lido DAO (LDO), Bitcoin ETF Token (BTCETF), Render (RNDR), Meme Kombat (MK), and Avalanche (AVAX) as the market recovers. Solana nears $60 Solana has surged by 350% in the past year. However, recent market turbulence triggered a notable pullback. Despite this, Solana currently stands at $58.1, showing signs of strength.  The recent retracement led to a retest of higher lows, followed by a bullish engulfing candle, a bullish formation continuing with SOL’s firmness.  It’s prudent to consider the possibility of a pullback and a cooling-off period before another upward movement.  You might also like: House GOP whip Tom Emmer sees no need to rewrite laws for crypto following Binance’s settlement Two factors hint at this potential scenario.  Firstly, the trading volume is dropping, signaling market uncertainty and a lack of interest...

This surge suggests significant institutional attention despite the token’s historical association with FTX’s financial challenges. Amid market uncertainties around Changpeng "CZ" Zhao’s departure as Binance CEO, the in-house cryptocurrency of the FTX crypto exchange, FTX Token (FTT), witnessed a momentary bull run. FTT surged in market value by more than 55% in the past 48 hours and is currently trading at $4.63, reflecting a 30% increase from $3.56. FTX’s native token is experiencing another surge following Binance’s $4.3 billion settlement with the United States Department of Justice, according to on-chain analyst firm Santiment. This goes against expectations that FTT would fall in price because it's the new token representing the FTX crypto exchange’s relaunch (FTX 2.0). The token ’s value appears to have been boosted, with the ten largest wallets accumulating $12.8 million in coins in 19 days. According to Santiment, FTT has recorded 337% growth on the monthly ch...

On Nov. 22, the cryptocurrency exchange linked to Justin Sun HTX (formerly Huobi) commented on a recent attack on the platform resulting in the multi-million dollar loss. Earlier this week, reports surfaced that HTX and the HECO network were hacked by unknown persons who withdrew assets worth a combined $110 million. Company representatives for HTX took to X on Nov. 22 and published a note that says it promises to fully compensate for losses caused by the recent attack, which resulted in over $23 million in suspicious transfers leaving that platform. “Huobi HTX is expected to resume deposit and withdrawal services within 24 hours. The specific resumption time will be notified again. Please pay attention to the platform announcement.” HTX team Initially, security specialists from the Cyvers Alerts service announced the hack. According to Cyvers, a minimum of $86.6 million was withdrawn from Heco Bridge and another $23.4 million from HTX. Later, information about the hack was...

Crypto analytics platform Santiment says the token of an under-the-radar Ethereum (ETH) scaling solution has more upside potential even after recording triple-digit gains over the past couple of weeks. Santiment says that the Ethereum sidechain Skale Network (SKL) has more than tripled its market cap since mid-August amid an increase in the number of addresses. According to Santiment, traders are taking short positions on Skale Network as they bet that prices will fall soon. “SKL could push up even further until traders stop expecting a retrace, as liquidated shorts often act as rocket fuel to propel values higher.” Source: Santiment/X SKL is trading at $0.0601, up by around 209% from a low of $0.0194 reached in mid-October. Next up is Ethereum. Santiment says that the second-largest crypto asset by market cap is witnessing a major increase in address activity. According to Santiment, Ethereum is flashing a “promising sign” as the rise in address a...

Between the U.S. Securities and Exchange Commission (SEC) suing the Kraken crypto exchange and the Department of Justice (DOJ) announcing criminal charges against Binance and its CEO Changpeng Zhao (CZ), the crypto industry has had a bad start to the week.  The weakness in crypto prices reflects this negative sentiment – the global crypto market cap shrank by 3% over the past 24 hours, below the crucial $1.4 trillion mark. While the Bitcoin price corrected by only 2.5% in 24 hours, altcoins such as BNB, SUI, and GRT plunged by close to 10%.  Midcaps such as Ethereum (ETH), Solana (SOL), and XRP have also seen significant pullbacks, falling below crucial support levels.  There is growing anticipation among crypto investors for positive news regarding the spot Bitcoin ETFs. Although some speculate that the recent downfall of Binance could increase the chances of swift approval, there has been no indication from the SEC.  Despite the recent slump in the crypto m...

Introduction In the ever-changing landscape of cryptocurrencies, the current market presents a unique playground for traders, especially in leverage trading using CFDs. This approach allows traders to magnify their potential gains from even the smallest market movements. A case in point is Solana (SOL), whose recent price activity exemplifies the lucrative opportunities in leverage trading in such a volatile market. Solana’s Market Resilience Solana, a prominent player in the crypto world, recently demonstrated remarkable resilience in the past two weeks in the face of market turbulence. After experiencing a sharp decline to $51.27, SOL managed an impressive recovery, rebounding to $55.31. For leverage traders, these kinds of price movements are golden opportunities. They offer a chance to enter and exit trades at strategic points, thus maximizing potential returns. Solana’s journey through this period of volatility is an excellent example of how leverag...

Bitcoin (BTC) generally leads the way in crypto bull runs, and 2023 is no different, with the “digital gold” doubling to a recent peak of $37,000. Such a run has analysts predicting that gains from Bitcoin will flow to other altcoins like Polkadot (DOT) and Meme Moguls (MGLS). Bitcoin is setting the crypto pace Unsurprisingly, Bitcoin (BTC) is leading the current crypto wave. The crypto king usually moves first as investors flock to the most established asset during bull runs.  Nonetheless, this cycle is slightly different. The potential for a spot Bitcoin exchange-traded fund (ETF) could mean institutional investors finally accepting Bitcoin.  You might also like: ARK Invest discloses 80 bps fee in spot Bitcoin ETF filing The Bitcoin price has been rallying, spurred by this fundamental shift, with traders betting on increased demand for the digital asset.  The current price of $37,000 represents a break of the $30,000-$32,000 resistance zone, whic...

Opening a Wendy’s franchise provides an opportunity to capitalize on a trusted national brand in the fast-food industry. With nearly 7,000 locations across the United States, Wendy’s consistently ranks as one of the top quick-service restaurant chains. Franchising since 1972 After founding the first Wendy’s in Columbus, Ohio, in 1969, Dave Thomas began franchising the concept just three years later. The company slowly grew its franchise d footprint over the following decades. Today, over 77% of Wendy’s restaurants are franchise d rather than company-owned corporate locations. Also read: How Much is a Burger King Franchise? Flexibility for Franchisees Under the franchise model, Wendy’s parent company handles brand marketing, menu development, restaurant design, and other system-wide standards. Meanwhile, franchise es have leeway on certain operational decisions like pricing, staff wages, operating hours, and interior decor choices. This b...

Bitcoin Minetrix (BTCMTX), a stake-to-mine token, has raised over $4 million in its presale. Exploring Bitcoin Minetrix’s mining model  Bitcoin Minetrix’s stake-to-mine mechanism allows users to passively earn Bitcoin (BTC) rewards. By staking BTCMTX, Bitcoin Minetrix’s native token, users generate mining credits to access cloud mining power for BTC. This model aims to decentralize hash power acquisition, giving users more power and control than traditional cloud mining. Additionally, Bitcoin Minetrix’s staking protocol enables investors to earn considerable yields – with the current APY set at 141%. As the Bitcoin halving event approaches in April 2024, reducing block rewards and potentially decreasing profitability, Bitcoin Minetrix’s Stake-to-Mine feature could act as a buffer. By allowing users to stake BTCMTX for cloud mining power rather than directly investing in rigs and hardware, the platform effectively lowers the barriers to ...

Author: @tmel0211 Source: https://twitter.com/tmel0211/status/1722123517570023863 I rarely discuss BRC20.Why? Because, if you understand it, BRC20 fundamentally falls into the category of market speculation and lacks any technical components. If you think I’m biased against BRC20, I feel it’s actually the lack of respect for Bitcoin’s UTXO technology on your part. I understand the existence of shilling in the market, but it doesn’t necessarily have to be based on confusing the facts. So, how do we view the narrative of Taproot Assets and Ordinals? In simple terms: Ordinals assets are easy to distribute but hard to grab, while Taproot Assets don’t require grabbing but are hard to distribute. Ordinals BRC20 Ordinals are third-party data indexes, and actions such as token deployment, minting, and transfers depend entirely on users publishing specific data fields to the blockchain. Ordinals can only provide “legitimacy” interpretation based on decentralized data retrieval. The advantages i...

India’s notorious cryptocurrency hacker Srikrishna Ramesh aka Sriki moved $1.2 million worth of Bitcoin from inside a prison. Sriki was arrested by the Special Investigation Team (SIT) of the Criminal Investigation Department in 2020 for hacking Bitcoin and other cryptocurrencies worth millions. The scammer was first arrested by the Central Crime Branch (CCB) for procuring drugs through the DarkNet. However, in the course of the investigation, it was revealed that he was also involved in cryptocurrency scams. Also Read: BRICS: China & Saudi Arabia Sign $7 Billion Currency Swap Deal Nonetheless, despite being in a quarantine prison in the southern city of Bengaluru, Sriki managed to move $1.2 million worth of Bitcoin. It is reported that Sriki bribed a police constable to bring him a laptop inside his cell. The constable brought in a laptop with internet connectivity and the scammer moved Bitcoin worth $1.2 million at the behest of some influential persons. He further laun...

The weakness in the U.S. Dollar Index suggests that risky assets such as Bitcoin and the S&P 500 Index may remain in favor with the buyers. The S&P 500 Index (SPX) rose 2.24% last week, its third consecutive weekly gain. In comparison, Bitcoin (BTC) managed a minuscule gain of 0.8%, indicating consolidation below $38,000. The prospects for risky assets remain bullish as the United States Dollar Index has started to turn down.  Cryptocurrency investors have not parted with their Bitcoin holdings even after the 125% rally in 2023, indicating their long-term bullish view. Reflexivity co-founder William Clemente posted a chart sourced from Glassnode to X (formerly Twitter), which showed that 70% of Bitcoin in circulation has not been sold or transferred in the past year. Daily cryptocurrency market performance. Source: Coin360 Investors have also increased exposure to global cryptocurrency exchange-traded products (ETP) in 2023, according to a report by the digital asset platform ...

CoinDesk was owned by Digital Currency Group who acquired the media company in 2016 for $50M. The new owner, Bullish, is headed by former New York Stock Exchange president Tom Farley. Crypto media platform CoinDesk was acquired by crypto exchange Bullish on Nov. 20, according to a report published in the Wall Street Journal (WSJ). The crypto exchange is headed by former New York Stock Exchange president Tom Farley. The media platform said that former Wall Street Journal editor-in-chief Matt Murray will chair an independent editorial committee while the current CoinDesk editorial team will remain intact. According to the report, Bullish acquired the crypto media platform in an all-cash deal, though the terms of the deal were not disclosed. The media platform, formerly owned by Digital Currency Group, has been in the acquisition talks after DCG faced a financial crunch after one of the worst crypto winters over the past two years. DCG purchased CoinDesk for $500,000 in 2016. The Coin...