Bitcoin News and Finance: What You Need to Know

On Wednesday, the stablecoin project Trueusd announced that it is leveraging Chainlink Proof of Reserve (POR) technology to provide real-time verification for the minting of trueusd tokens. The trueusd crypto asset has a circulating supply of over 968 million tokens and is the sixth-largest stablecoin by market capitalization. Archblock Uses Chainlink to Verify Reserves Before Minting New TUSD Stablecoins Archblock, the issuer of the trueusd (TUSD) stablecoin, has announced that it is using Chainlink to verify reserves before minting new TUSD stablecoins. According to the project, it is the first U.S. dollar-backed stablecoin to use proof-of-reserves (POR) technology for real-time on-chain verification of TUSD’s offchain reserves. The POR data feed is a smart contract that automatically checks “whether the total supply of TUSD would exceed the total amount of U.S. dollars held in reserve before any new stablecoin is minted.” According to a statement by Ryan Christensen, the CEO of ...

Indian Finance Minister Nirmala Sitharaman has stressed the importance of international cooperation in order to regulate the crypto sector. She also confirmed that Indian regulators’ crypto awareness campaign will continue to alert people about the risks of investing in crypto. Indian Finance Minister on Crypto Regulation, Bill, and Awareness Campaign India’s finance minister, Nirmala Sitharaman, answered some questions about crypto during a press conference on Monday. She said: In India, crypto is on the agenda of G20. This is because we think technology-driven crypto asset creation and buying and selling of assets in the crypto world will have to have international cooperation. “The reason is they can be anywhere but operated in India or they can be in India but operated somewhere else,” the Indian finance chief added. Sitharaman also addressed the issue of young Indians, particularly students, putting their pocket money into risky crypto assets with the hope of generating bi...

World Wide Web inventor Sir Tim Berners-Lee says cryptocurrency is “really dangerous” and “only speculative.” While claiming that crypto is for those who “want to have a kick out of gambling,” he noted that it could be useful for remittances. Sir Tim Berners-Lee on Crypto Sir Tim Berners-Lee, the British computer scientist who is widely credited with the invention of the World Wide Web, shared his thoughts about cryptocurrency on CNBC’s “Beyond the Valley” podcast, published last week. Berners-Lee called cryptocurrency “dangerous” and likened it to gambling. Claiming that “cryptocurrency can be 100% speculative” and “not linked to anything at all,” he opined: It’s only speculative. Obviously, that’s really dangerous. He asserted that crypto is for “if you want to have a kick out of gambling, basically.” He also compared cryptocurrency to the dot-com bubble, noting that people were valuing various internet stocks “because of what they imagined other people will value them in the...

PRESS RELEASE. After over a year of preparation and restructuring, decentralized and privacy-enabled AI organization Federated Learning Consortium (FLC) is set to launch as a for-profit research consortium in Hong Kong, China, shifting from a previously non-profit approach. FLC is set to be led by founding keystone members – blockchain technology platform Phoenix and leading China-based consumer data and AI company APEX Technologies. FLC’s vision is centered on researching, developing, and promoting cutting-edge technologies surrounding federated AI, including federated learning, blockchain-enabled AI, multi-party computation (MPC), and TEE (trusted execution environment). The organization will be particularly interested in combining large-dataset deep learning technologies, such as reinforcement learning, with highly performant infrastructures using GPU computing using a decentralized/federated approach. Organizational membership will be open to AI related technology firms, blockc...

A new player has entered the Bitcoin apparel market and is quickly making a name for themselves. Founded by Bailey Jakob , an Australian-born entrepreneur and Bitcoin enthusiast, Mr. Satoshi has quickly become the go-to brand for high quality and professionally designed Bitcoin clothing. Mr. Satoshi is a new U.S. based premium Bitcoin apparel store that is making waves throughout the Bitcoin community with their high quality & luxuriously designed Bitcoin apparel. Mr. Satoshi launched on January 4th and in their first month, saw more than 20,000 individual visitors to their store, and a surge in social media followers. Bailey explained his motivation behind creating the Bitcoin clothing line was from his growing frustration with the lack of quality Bitcoin apparel, with designs that look good and do not scream “Crypto”. “In October 2022, I was searching online for a Bitcoin-based t-shirt for myself. After an hour scrolling through a dozen online Bitcoin stores, I gave up. Ei...

The Bank of Japan is preparing to launch a pilot test for a digital yen, its central bank digital currency (CBDC), later this year. Shinichi Uchida, executive director of the Bank of Japan, explained that the goals of this new pilot are to test the technical feasibility of the currency and to include private businesses in its design process. Bank of Japan to Continue Digital Yen CBDC Experimentation The Bank of Japan is advancing in its research for the issuance of a hypothetical Japanese central bank digital currency (CBDC), the digital yen. On Feb. 17, Shinichi Uchida, executive director of the Bank of Japan, announced the bank had decided to launch a new pilot for the digital yen, as a continuation of two phases of proof-of-concept tests. Uchida said that the new pilot will focus its activities in two directions. The first one will be the fine-tuning of the technical aspects of the currency, in order to test new use cases and integrate the system with other structures. He decla...