Bank of Russia started CBDC testing in 2022 and expects to implement an official banking rollout in the year of presidential elections in 2024.

The Bank of Russia continues working towards the upcoming adoption of the central bank digital currency (CBDC), planning an official digital ruble rollout in a few years.

According to the Bank of Russia’s latest monetary policy update, the authority will begin to connect all banks and credit institutions to the digital ruble platform in 2024. That would be an important year for Russia as the country is expected to hold presidential elections in March 2024 and incumbent President Vladimir Putin has the constitutional right to get re-elected.

By that time, the central bank expects to complete “real money” customer-to-customer transaction trials as well as the testing of customer-to-business and business-to-customer settlements.



#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #russia

Liquidity is strong on alt markets as Bitcoin gives way to Ethereum after a battle which has raged throughout 2022.
Ether (ETH) is worth more in Bitcoin (BTC) than at any time since the start of the year amid renewed appetite for altcoins.
Altcoin market cap returns to $700 billion.
Data from Cointelegraph Markets Pro and TradingView confirms that ETH/BTC has cleared key resistance to pass 0.08 BTC on Aug. 13.

The move is impressive for largest altcoin Ethereum, as the area around 0.075 represented a troublesome sell zone which had previously kept bulls in check for since January.

At the time of writing, ETH/BTC is working to retain the newly-won level, as traders query how long its strength might last.

As Cointelegraph reported earlier, ETH/USD passed $2,000 overnight, a significant psychological boundary in itself unseen since May.


#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #eth

The Shiba Inu breakout appears almost ten days after SHIB's addition to Binance Card.

Shiba Inu (SHIB) broke out of its prevailing "cup-and-handle" pattern on Aug. 14, raising its prospects of securing additional gains in the coming weeks.

Shiba Inu could soar 50%
A cup-and-handle appears when the price falls and rises in a U-shaped trajectory in the first stage, followed by a swift move sideways or downward in the second. Notably, the price trend develops under a common resistance level.

Typically, cup-and-handle patterns resolve after the price breaks above the resistance level; SHIB did the same on Aug. 14 after rising 27% to $0.000016, as shown below.
Per the rule of technical analysis, a cup-and-handle breakout target is determined by measuring the distance between the pattern's lowest point and resistance line and adding it to the breakout point. As a result, SHIB could head toward $0.00002253.


#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #shiba

The Canadian Securities Administrators will require crypto trading platforms to file an undertaking committing them to investor protections while their registration is in process.

The Canadian Securities Administrators (CSA), the council of provincial and territorial securities regulators, announced Monday that crypto trading platforms will be expected to provide a preregistration undertaking to their principal regulators as they take steps to comply fully with securities regulation. Two platforms, Crypto.com and the Canadian platform Coinsquare Capital Markets, have already filed those undertakings.



#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #cryptocom

Other notable corporate investors include BlackRock, Morgan Stanley, Samsung, and Goldman Sachs, according to a report from Blockdata.

Google parent company Alphabet poured the most amount of capital into the blockchain industry compared to any other public company, investing $1.5 billion between Sep. 2021 and Jun. 2022, a new report shows.

In an updated blog published by Blockdata on Aug. 17, Alphabet (Google) was revealed as the investor with the deepest pockets compared to the top 40 public corporations investing in blockchain and crypto companies during the period.

The company invested $1.5 billion into the space, concentrating on four blockchain companies including digital asset custody platform Fireblocks, Web3 gaming company Dapper Labs, Bitcoin infrastructure tool Voltage, and venture capital company Digital Currency Group.



#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #google

A casual dash over the $25,000 mark is fully retraced as weekend trading produces some classic volatility.
Bitcoin (BTC) spiked through to $25,000 for the first time in months on Aug. 14, but traders refused to take any chances on a bull run.

Weekend produces brief $25,000 tap for BTC
Data from Cointelegraph Markets Pro and TradingView tracked a sudden run-up on BTC/USD, which hit $25,050 on Bitstamp in a $350 hourly candle.

The move took the pair to a new personal best since June 13, erasing more of the losses seen that day in what remains a significant BTC price correction.

Analyzing the market setup, however, familiar bearish tones remained.

For popular Twitter account Il Capo of Crypto, the latest highs appeared to provide the last piece of the puzzle before a new downtrend set in.

Il Capo had previously called for a peak of $25,000-$25,500 before Bitcoin changed direction to head lower.


#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #btc

BDO Italia, a member of the BDO Global accounting organization, will begin producing monthly attestations of Tether’s USDT backing.

In a step toward greater transparency and better alignment with international accounting standards, stablecoin operator Tether Holdings Limited has tapped BDO Italia to conduct regular reviews and attestations of its dollar reserves.

Tether, which operates the USDT stablecoin, officially began working with BDO Italia in July, the company disclosed on Thursday. BDO Italia will be responsible for conducting an independent review of Tether’s stablecoin reserves to ensure that each unit of USDT is backed by cash or cash equivalents. Through BDO’s reviews, Tether aims to release public attestation reports monthly instead of quarterly. The attestations will include updates about the number of USDT tokens issued as well as the company's reserves.



#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #usdt

Many owners of precious Bored Ape Yacht Club (BAYC) and CryptoPunks nonfungible tokens (NFTs), who used them as collateral to take out loans in Ether (ETH), have failed to repay their debts. The situation could lead up to the NFT sector's first massive liquidation event.

BAYC "death spiral" incoming?
DoubleQ, the founder of Web3 launchpad Double Studio, says lending service BendDAO could liquidate up to $55 million worth of NFTs to recover its loans, fearing the so-called "health factor" of these debts could fall below 1.

Notably, an NFT collection's floor price is important in determining the health factor. BendDAO offers 30%–40% of the NFT's floor price as loans. But the protocol sells the NFT if its floor price falls too close to the amount borrowed—a liquidation threshold, as explained below.



#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #apeyachtclub

Crypto adoption should be about more than speculative trading outside of your regular bank account.

The total value locked in decentralized finance (DeFi) projects is hovering around $62 billion as of mid-August, down from a peak of over $250 billion in December 2021. Capital is fleeing the crypto space amid war, soaring inflation and whatever other surprises 2022 may still have in store for us.

However, unlike previous crypto bull runs, it was not just retail interest that drew in this capital in the first place. Rather, major institutional players, which have recently opened up to crypto, quickly developed an appetite for the yields DeFi is known for. But now that winter is upon us, the pitfalls of high-yield platforms have become more apparent.



#blockchain #nonfungible #gamefi #metafi #defi #playtoearn

The hack meant that all crypto going into the Bitcoin ATM would instead be siphoned off by the hackers.

Bitcoin ATM manufacturer General Bytes had its servers compromised via a zero-day attack on Aug. 18, which enabled the hackers to make themselves the default admins and modify settings so that all funds would be transferred to their wallet address.

The amount of funds stolen and number of ATMs compromised has not been disclosed but the company has urgently advised ATM operators to update their software.

The hack was confirmed by General Bytes on Aug. 18, which owns and operates 8827 Bitcoin ATMs that are accessible in over 120 countries. The company is headquartered in Prague, Czech Republic, which is also where the ATMs are manufactured. ATM customers can buy or sell over 40 coins.

The vulnerability has been present since the hacker’s modifications updated the CAS software to version 20201208 on Aug. 18.


#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #btc

The issues surrounding the Cardano Vasil hard fork have been “incredibly corrosive and damaging,” according to founder Charles Hoskinson, who’s looking to put the controversy to an end.

Cardano founder Charles Hoskinson has continued to refute claims that the Cardano’s testnet is “catastrophically broken,” implying the need to finally move forward with the long-delayed Vasil hard fork.

In a Twitter thread on Sunday, Hoskinson shared his frustration concerning some of the videos claiming Cardano’s testnet has a “catastrophic” issue, which stems from a Friday thread from Cardano ecosystem developer Adam Dean.

The developer claimed that the testnet is “catastrophically broken” due to an undiscovered bug in Cardano’s Node v 1.35.2 that creates incompatible forks — which had managed to slip under the radar of the previous testing.


#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #ada #cardano

Nonfungible tokens give major brands new ways of interacting with their consumers spanning art, fashion and gaming.

The hype surrounding nonfungible tokens (NFTs) has allowed some of the world’s most iconic brands to rake in hundreds of millions of dollars in additional revenue, underscoring the mass consumer appeal of digital collectibles.

Leading brands including Nike, Gucci, Dolce & Gabbana, Adidas and Tiffany have amassed a combined $260 million worth of sales from NFTs, according to data from Dune Analytics that was first reported by NFTGators. Nike’s NFT drops have amassed $185.3 million in revenue, with volumes in secondary markets approaching $1.3 billion.


#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #nft

The foundation aims to streamline Uniswap's grants program and "reinvigorate governance."

The $74 million plan by two former Uniswap Lab executives for a new Uniswap Foundation has just become reality after their proposal received over 99% of the votes from UNI token holders.

According to the initial proposal, the foundation aims to streamline Uniswap’s Grant Program (UPG) and reduce friction in the protocol’s governance system.

Former Uniswap Labs executive Devin Walsh, now serving as executive director of UF shared the results in a tweet on Aug. 24, noting that the proposal to create the foundation “passed its final vote!”

Last night our proposal to create the Uniswap Foundation passed its final vote!


#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #uniswap

Like all altcoins, ATOM price fell as $550 million of BTC, ETH and altcoin positions were liquidated last week, which is exactly why its 35% rebound is raising eyebrows.
As a market crash takes place, assets become oversold and typically there’s an “oversold bounce,” “return to mean,” “mean reversion,” or some price snapback to the bottom of the pre-crash range.

Afterward, the asset under study either consolidates, continues the downtrend, or returns to the bullish uptrend if the downside catalyst was not significant enough to break the market structure. That’s all basic trading 101.

This week Cosmos (ATOM) price appears to be following this path, and the altcoin is showing a bit of strength with a 35% gain since Aug. 22. But why?


#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #atom

...On Web2 — Twitter and Facebook — users do not own their own content or followers. That isn’t the case on Web3, where our corporate overseers will become powerless.

Today’s social media landscape is dominated by Web2 corporations — mostly Meta (Facebook) and Twitter. The companies collect data from billions of users and collect billions of dollars in revenue from user-generated content. While it’s great for the corporations and their shareholders, it comes at a cost for average users and professional content creators.

But in the near future, decentralized social media — or Web3 — is likely to end that old model by giving power back to users.

#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #metafi

Coinbase says it will 'evaluate any potential forks' following the Merge

“Should an ETH PoW fork arise following The Merge, this asset will be reviewed with the same rigor as any other asset that is listed on our exchange,” said Coinbase.

Cryptocurrency exchange Coinbase has updated its information related to Ethereum transitioning to proof-of-stake to include forks that could arise.

In a Thursday update to an Aug. 16 blog post, Coinbase said it would evaluate any potential forks in the Ethereum blockchain on a “case by case basis.” The crypto exchange previously said it planned to 'briefly pause' Ether (ETH) and ERC-20 token deposits and withdrawals during the Merge, expected to occur between Sept. 10 and 20.

“Should an ETH PoW fork arise following The Merge, this asset will be reviewed with the same rigor as any other asset that is listed on our exchange,” said Coinbase.


#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #coinbase

F1 files trademark for 2023 Las Vegas Strip Circuit Grand Prix, listing NFTs and cryptocurrency in a variety of potential goods and services on offer.

Formula One could introduce nonfungible tokens (NFTs), digital collectibles and cryptocurrency payment support ahead of the inaugural Las Vegas Grand Prix in 2023.

F1's trademark department registered two new trademark filings with the United States Patent and Trademark Office on August 23. The filings outline the trademark and logo for the Las Vegas Strip Circuit and a wide-ranging list of goods and services that the event intends to offer during next year’s race.

Of particular interest were specific mentions of NFT and cryptocurrency-related offerings as well as blockchain-powered transactional services. The filing notes NFTs that will represent ownership of a wide variety of real-world items, including vehicle equipment, decorative items, clothing, bags, wallets and even "perfumery."


#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #formula

GameSwift has announced that it’s creating a Web3 gaming ecosystem that aims to enable the mass adoption of Web3 games. This new approach to the market by the fundraising platform on the Terra blockchain came from its strategic partnership with Polygon. This partnership will allow GameSwift, formally StarTerra, to begin setting up its innovative ecosystem, leveraging the Polygon Edge technology and zero-knowledge proof. It aims to become a one-stop shop for games and gamers looking to get involved in Web3.


#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #web3

Storing an NFT “in chain” means that the NFT can be generated completely off the underlying smart contract, without any need for an off-chain storage provider.

PROOF, the private community behind the Moonbirds NFT collection, has announced it is shifting its blue-chip collection completely “in chain” — allowing images to be fully contained within the underlying smart contract.

In a community live stream named “Future PROOF” on Aug. 30, Harri Thomas, director of products at PROOF explained that the new approach will mean that in the future, the viewable image of a Moonbird NFT will be “constructed from the contract itself from art layers, which are going to be stored on the blockchain.”

“We’ve talked about putting the birds ‘on chain’, so what I’m here to tell you today is that they’re not only going to be ON chain, they’re going to be put IN chain.”


#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #nft #moonbirds

The number one attribute to succeed in the crypto industry is a “start-up mentality” and the ability to “roll with the punches," a crypto recruiter tells Cointelegraph.

The ongoing crypto winter has seen budgets and jobs slashed, but the search for top-tier talent hasn’t stopped across several Web3 verticals, according to some crypto recruitment firms.

Speaking to Cointelegraph, Kevin Gibson, founder of crypto recruiting firm Proof of Search said that the majority of staff cuts in the crypto market have been from centralized exchanges, most notably the 18% staff cut at Coinbase in June, 10% cuts at Gemini in July, and the 5% cut at Crypto.com.

Despite this, he said there is “still a great deal of demand” for crypto job seekers to get work with “Game-Fi, Metaverse, De-Fi and NFT-oriented companies.”


#blockchain #nonfungible #gamefi #metafi #defi #playtoearn