Reality Labs’ year-to-date losses exceed $7.7 billion.
Meta, the Big Tech player behind the metaverse concept, has reported losses of $3.74 billion in the second quarter of 2023. The company has invested a staggering $7.7 billion in…
Crypto Investors Struggling in Hector, Urging Swift Demise of the DAO
Hector Network, a prominent cryptocurrency project, recently announced its decision to initiate a liquidation process that is expected to last between six to twelve months. While this move is seen…
SEC introduces AI governance rules to address conflicts of interest among brokers.
The United States Securities and Exchange Commission (SEC) recently approved a series of significant changes to the rules governing the use of "optimization functions" by brokers. The committee vote took…
FOMC Raises Benchmark Rate to 5.25%-5.50% with 25 Basis Point Increase
The price of Bitcoin (BTC) has experienced a period of stagnation during the month of July, following a rapid 20% rally in mid-June. This surge was largely driven by the…
Canada introduces stricter regulations on cryptocurrency assets in banking sector.
Canada's financial regulator, the Office of the Superintendent of Financial Institutions (OSFI), has proposed changes to its capital and liquidity approach to crypto assets. The proposed rules aim to simplify…
Canada’s Crypto Holdings Face New Bank Capital Regulations
The Superintendent of Financial Institutions, Peter Routledge, has stated that deposit-taking institutions and insurers require clear guidelines on how to handle crypto-asset exposures in terms of capital and liquidity. In…
EOS Foundation sues Block.one over $1B commitment breach
The EOS Network Foundation (ENF) has taken legal action against Block.one (B1) for failing to fulfill its $1 billion investment commitments. On July 25, ENF founder and CEO Yves La…
Ramp Network Initiates Brazilian Operations in Latin America Expansion Plan
Ramp, a leading cryptocurrency on-ramp platform, is setting its sights on Latin America as it aims to expand its presence in the region. According to Łukasz Anwajler, chief technology officer…
Binance introduces feeless stablecoin, but quickly halts due to technical problems.
The listing of the stablecoin FDUSD on Binance, which was originally set to take place on July 26, 2023, has been postponed due to technical issues experienced by the liquidity…
Nigeria Aims to Boost Usage of Central Bank Digital Currency (CBDC) with Changes.
The adoption of eNaira, Nigeria's digital currency, has posed some challenges for users. According to the central bank, the total value of eNaira transactions conducted in the year was 22…