Crypto Explainers

Pay More Attention To Assets' Backing: Ethereum's Co-Founder On Crash

Pay More Attention To Assets' Backing: Ethereum's Co-Founder On Crash

Reuters | Wednesday May 25, 2022

Ethereum's co-founder Gavin Wood said cryptocurrency investors need to be more aware of what is backing their holdings after a market rout which wiped more than $800 billion off their value.

Crypto's Recent Crash Decimates Ukraine Government's Crypto Fundraise Efforts

Crypto's Recent Crash Decimates Ukraine Government's Crypto Fundraise Efforts

Reuters | Wednesday May 25, 2022

Ukraine, battered by three months of war, plans to continue to tap crypto investors to help raise funds after a plunge in prices decimated the country's fundraising efforts in May.

To Reclaim African Artifacts, 'Looty' Project Launches Digital Art Heists

To Reclaim African Artifacts, 'Looty' Project Launches Digital Art Heists

Reuters | Wednesday May 25, 2022

A Nigerian man has launched a project called "Looty" to reclaim African artifacts stolen by European colonisers by creating 3-D images of them, selling them as non-fungible tokens (NFTs) and using the proceeds to fund young African artists.

Central African Republic To Launch Crypto Platform, Despite IMF's Warning

Central African Republic To Launch Crypto Platform, Despite IMF's Warning

Reuters | Wednesday May 25, 2022

Central African Republic will launch the continent's first legal cryptocurrency investment hub, the presidency said, extending the impoverished country's embrace of digital finance despite words of caution from the International Monetary Fund.

Despite Market Crash, Crypto Crowd Dominate Davos' Main Street

Despite Market Crash, Crypto Crowd Dominate Davos' Main Street

Reuters | Wednesday May 25, 2022

A free bitcoin pizza stall and a "Liquidity Lounge" were among the treats on offer for attendees at this year's meeting in Davos, where blockchain and cryptocurrency firms have taken over its main street, despite a recent crash in digital coin values.

Terra's Implosion Underscores Crypto Sector's Ability To Quickly Pivot

Terra's Implosion Underscores Crypto Sector's Ability To Quickly Pivot

Sidhartha Shukla, Bloomberg  | Friday May 20, 2022

To some extent, the Terra implosion also underscores the crypto sectors ability to quickly pivot after a big shakeout.

Top Stablecoin Tether Shuns Risky Assets, Boosts Its US Treasury Holdings

Top Stablecoin Tether Shuns Risky Assets, Boosts Its US Treasury Holdings

Friday May 20, 2022

Tether, the world's largest stablecoin, said it had boosted its holdings of US government debt while cutting exposure to riskier assets.

Swift Crypto Assets' Regulation Needed: G7 Countries' Draft

Swift Crypto Assets' Regulation Needed: G7 Countries' Draft

Reuters | Friday May 20, 2022

G7 finance heads called for a swift and comprehensive regulation of cryptocurrencies following turmoil, a draft communique showed on Thursday.

Luna Will Rise From Ashes, Bet Crypto-Loving South Koreans

Luna Will Rise From Ashes, Bet Crypto-Loving South Koreans

Reuters | Thursday May 19, 2022

Reckoning they have little to lose with prices so ridiculously low, South Korean speculators in recent days have piled into Luna, a cryptocurrency that lost 99.99 per cent of its value last week after its paired stablecoin TerraUSD collapsed.

South Africa Eyes Digital Rand To Cut High Cross-Border Payment Costs

South Africa Eyes Digital Rand To Cut High Cross-Border Payment Costs

Reuters | Thursday May 19, 2022

A digital rand in South Africa could cut the high cost of cross-border payments for banks but its introduction is still a few years away, a senior central bank official said.