“President Joe Biden’s administration is reportedly troubled by the long-term effects a digital yuan may have on the dollar’s status as the world’s reserve currency.
According to a Sunday report by Bloomberg citing unnamed sources, officials at multiple government departments are increasing efforts to better understand possible threats posed by China’s initiative. Officials have begun ramping up their efforts to understand how the digital yuan will be distributed and whether it works around trade sanctions, according to the report.”
See Also: Peter Thiel Defines Bitcoin’s Accidental Role in Global Politics
See Also: China’s Digital Yuan Comes With An Expiration Date (Recommended read)
“Despite Binance supporters celebrating Binance Coin’s (BNB) chart-topping performance for Q1 2021, concerns are growing regarding the centralization of the Binance ecosystem.
BSC uses proof-of-staked authority consensus, with its 21 active validators being chosen daily by Binance Chain — a network that is governed by just 11 validators.
It’s hard not to presume that each Binance Chain validator is in some way connected or tied to Binance. They each take turns producing blocks in a seemingly predefined order.
BSC is an Ethereum fork with a centralized validator set. That’s it. Nothing more.
Every cycle people get hoodwinked by the latest centralized solution to all blockchains problems. Every cycle influencers pump these narratives so they can dump on naïve retail traders when it’s over.”
“Binance is allowing its users to buy fractions of companies’ shares with a new tokenized stock trading service, starting with Tesla. Users will be able to purchase as little as one-hundredth of a Tesla share, with prices settled in Binance USD (BUSD).
It’s not the first tokenized stock play. But where [alternatives] use synthetic stocks (or tokenized representations of actual equities), the Binance product is “backed by a depository portfolio of underlying securities” managed by an investment firm in Germany. Holders qualify for returns including dividends.”
“One of the most recognizable publications in the world, TIME Magazine will now be receiving some payments in Bitcoin.
Grayscale is partnering with TIME on a new video series coming this summer explaining the crypto space. Equally as important, KeithGrossman & TIME has agreed to be paid in Bitcoin – and will hold the BTC on their balance sheet.”
See Also: Galaxy Digital Files for US Bitcoin ETF
“The house in question is located in a small German village, near a castle and a short drive from Frankfurt. The NFT is being sold in an auction on OpenSea, with a minimum reserve price of 34 ETH ($74,000).
Whoever purchases the NFT will be able to contact the seller and organize the sale of the house through standard legal means. If somebody purchases the NFT, they will be able to access unlockable content that comes with it. This is how they’ll be able to contact the seller.”
“Rail cargos from China to Europe can now be delivered in days instead of months, after a new blockchain system was installed at a major Chinese rail port.
Trades where cargo was delivered from China by rail used to take over a month to reach their destinations in Europe. Documentation and waybills would have to be checked at every border crossing, the logistics of which was made harder by translation difficulties and bureaucratic hold-ups.
We take advantage of blockchain’s merits, such as its tamper-proof nature and timestamps, to form reliable trade data. That can greatly improve the financing capabilities of small and medium-sized foreign trade enterprises.”
“Halo Arc includes updates to Zcashd (Zcash’s consensus node), an ECC wallet prototype and the ECC wallet software development kits (SDKs). The wallet will enable shielded-by-default transactions, something that is merely optional for Zcash right now.
Halo is a “trustless recursive” version of zero-knowledge proofs that allows greater scalability and removes the controversial “trusted setups” involved. Previously planned for release this summer, Halo Arc will now launch on Oct. 1, 2021.”
“Ant Group whose $37 billion initial public offering (IPO) was suspended by China’s regulators in November, will restructure as a financial holding company. Two days ago, Chinese regulators hit Alibaba with a $2.8 billion fine as part of its anti-monopoly investigation of the tech giant, claiming the company had abused its market dominance.
The terms of the restructuring are expected to curb Ant Group’s profitability and valuation. Under a “comprehensive and feasible restructuring plan” Ant Group would cut the “improper” linkage with payments services including AliPay, Jiebei, and Huabei.
Ant Group is known for its major subsidiaries including Alipay and Kakao, but it also has a blockchain arm offering services based on its own AntChain technology.”
“Telegram is close to fully repaying investors in its TON blockchain effort nearly a year after settling allegations it violated U.S. securities law in raising over $1 billion for the project.
On Monday, Russian newspaper Vedomosti reported that Telegram is preparing to launch an IPO in 2023, aiming for a $30 million to $50 million valuation. The IPO will benefit the buyers of Telegram’s bonds, which the company sold in February to raise $1 billion.”