Bitlux, a leading private aviation company based in Boca Raton, Florida, has disclosed an industry-leading trend: the use of cryptocurrencies for approximately one-third of its flight bookings. This adoption reflects a significant move towards digital payment methods in the luxury travel sector. Since the beginning of 2021, Bitlux has completed almost 1,000 occupied flights and...
Nigeria has initiated a blockade on several leading cryptocurrency exchanges, including Binance, Coinbase, and Kraken, in an effort spearheaded by the Nigerian Communications Commission (NCC). This drastic measure aims to curb currency speculation and stabilize the rapidly depreciating naira, which has hit record lows against the dollar. The telecoms regulator’s directive to restrict access to...
Recent leaks from a closed-door meeting have unveiled that discussions about a Central Bank Digital Currency (CBDC), often referred to as the digital dollar, are advancing within the Federal Reserve. This revelation comes at a time when the cryptocurrency market, particularly Bitcoin and Ethereum, is experiencing a significant upturn, drawing renewed attention and legitimacy from...
In a notable shift within the US political scene, data from Coinbase’s Stand with Crypto indicates a growing support for cryptocurrency among 18 US senators. This trend is predominantly observed within the Republican Party, spearheaded by notable figures such as Cynthia Lumnis and Ted Burr. Pro-Crypto Senators Lead Legislative Efforts Senators Cynthia Lumnis and Ted...
Nornickel, known globally for its nickel and palladium production, has taken a unique step in employee compensation by venturing into the world of digital assets. Last year, the miner initiated the Digital Investor program, where employees receive ‘minetokens’ — digital financial assets linked to the company’s stock. This move, launched in March 2023, represents a...
In an unexpected turn of events, Terraform Labs, a notable player in the blockchain sector, has filed for bankruptcy. This development sends ripples through the crypto community, marking a significant shift in the landscape of blockchain enterprises. Terraform Labs, known for its innovative approaches in the blockchain domain, has faced numerous challenges leading to this...
Former President Donald Trump has publicly declared his opposition to the development of a government-controlled digital currency, commonly referred to as Central Bank Digital Currencies (CBDCs). This declaration was made during a recent speech in New Hampshire, where Trump emphasized his concerns about government overreach in monetary matters. Trump’s primary apprehension revolves around the potential...
The government of Venezuela has officially terminated its Petro (PTR) cryptocurrency programme, marking the end of an ambitious but troubled endeavor. Launched in 2018 as a measure to support the nation’s struggling currency, the bolivar, Petro was initially backed by Venezuela’s rich oil reserves. However, the programme faced significant challenges and controversies, ultimately leading to...
The Bank of Spain is taking a step in exploring the potential of a wholesale central bank digital currency (CBDC) by partnering with Adhara, a treasury and transactions payment platform, and a consortium formed by two private banks, Cecabank and Abanca. This initiative marks a distinct phase in the bank’s exploration of digital currency technology,...
Recovery of Cryptocurrencies After a challenging phase, cryptocurrencies are experiencing a significant recovery. This resurgence follows the collapse of major companies like FTX in 2022, which deepened the “crypto winter” and saw Bitcoin’s value plummet to around $16,500 from its record high of $68,000. However, since the conviction of FTX CEO Sam Bankman-Fried in November,...
