The collapse of FTX raises some existential questions: Not just about that company, not just about cryptocurrencies, but of decentralized finance (DeFi) as well. At first glance, it shouldn’t be this way. It is the centralized finance of the crypto space — the exchanges that...
Wells Fargo and HSBC, two of the world’s largest banks, have added the offshore version of China’s yuan (CNH) to their blockchain-based foreign exchange (FX) settlement system. The offshore yuan is the fifth currency settled between the two banks, using a shared settlement ledger that...
To say bitcoin has been volatile would be an understatement. After slumping more than 70% from its peak a year ago, it has most recently been whipsawed amid FTX’s high-profile plummet toward bankruptcy. And yet, for an intrepid and growing base of consumers, the marquee...
Blockchain is drawing government scrutiny worldwide as regulators seek to constrain fraudsters, limit its environmental impact and protect investors and enthusiasts from the technology’s potential drawbacks. The European Union and the United States are currently taking the lead in blockchain regulation, although other countries, such...
It has been a rocky 12 months for bitcoin. One year ago, bitcoin hit its all-time high of $68,789. Today, it’s back below $20,000, having lost 70% over the last 12 months. As bitcoin neared its record high last November, analysts attributed the rally in...
As cryptocurrency enters the mainstream, lawmakers struggle to create regulations that strike a balance between limiting the technology’s risk while also unlocking its benefits. In this month’s Blockchain Payments Tracker®, Andreas Veneris of the University of Toronto tells PYMNTS why he thinks cross-border payments would...
Cryptocurrency is exploding in popularity but brings with it significant personal and societal risks. Bitcoin, for example, was valued at approximately $16,000 per coin in 2017 before skyrocketing to nearly $65,000 last year, just to plummet right back down to its current value of approximately...
The two biggest hurdles to greater use of Ethereum blockchain transactions have historically been high transaction fees and the enormous environmental cost. Alongside the merge on Sept. 15 that transitioned the No. 2 blockchain into Ethereum 2.0, its electric power usage dropped from nation-sized to negligible thanks...
Crypto lobbying group Blockchain Association has asked permission to support cross-border payments company Ripple as a friend of the court in its case against the U.S. Securities and Exchange Commission (SEC). According to published reports Sunday (Oct. 30), the Washington, D.C., organization is also asking...
