China Enhances Digital Yuan App
China’s central bank has upgraded its CBDC app, enabling digital yuan payments for utilities, and added a services menu, expanding adoption.
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Trader Cautions Against Investing in Old Altcoins, 99.99% Don’t Survive
Crypto trader Feras cautions against investing in old altcoins, stating that 99.99% fail to survive past one cycle, contrasting Bitcoin’s resilience.
TradFi Leads Blockchain Demand, Digital ID and Supply Chain Emerging
Google Cloud’s James Tromans says TradFi leads blockchain demand, but digital identity and supply chain are emerging as exciting use cases.
Shiba Inu Outpaces Dogecoin and Cardano
Shiba Inu is generating more search interest than Dogecoin and Cardano among crypto investors in Canada and the US according to Google Trends data.
Former Huobi Employee Leaks User Private Keys via Trojan Virus
A former Huobi employee planted malware in iToken, compromising private keys and seed phrases per a report. Authorities are investigating the breach.
Hong Kong Central Bank Warns Against Crypto Firms Posing as Banks
The Hong Kong Monetary Authority said crypto companies acting as banks may be breaking laws. Deposits at unlicensed firms are not protected, HKMA warned.
Multiple Bearish Technical Setups Hint at More Downside for Bitcoin
BTC faces potential drops to $23K or lower based on a bear flag pattern, historical support trendlines, and a looming death cross formation according to the current technical outlook.
Threads Struggles to Attract Crypto Brands as Twitter Dominates
Despite Meta’s efforts to position Threads as a community hub for crypto brands, the platform has failed to gain significant traction, with less than 10% of the top 151 crypto brands being active on it, as they primarily remained on Twitter.
Binance.US: Layoffs and CEO Departure Amid Regulatory Pressure
The US division of leading cryptocurrency exchange Binance, Binance.US, disclosed that the SEC’s aggressive actions led to its plans to cut nearly one-third of its employees and its CEO’s resignation.
Boerse Stuttgart Developing Insured Crypto Staking for 2024
Boerse Stuttgart Digital is creating a fully insured crypto staking service with Munich Re. The offering aims to reduce slashing risks and attract institutional investors.