Bank of America analysts said in a report that a central bank digital currency (CBDC) would differ from digital currencies currently available because it would be the liability of the Federal Reserve, not a commercial bank. Analysts suggest that the United States is moving toward creating its own CBDC. According to a Bloomberg report, Bank…

The International Monetary Fund (IMF) urged El Salvador to strip Bitcoin of its status as legal currency due to its large risks, citing it as a significant obstacle for the nation’s efforts to get a loan from the institution. This follows El Salvador asking the IMF for a $1.3 billion loan last year, but the…

Luxury automobile manufacturer Lamborghini is launching an NFT collection that’s out of this world. The initiative is a set of digital space keys. Five digital artwork NFTs have been made by a yet-to-be-disclosed artist. The Italian marque Lamborghini is renowned for its supercars such as the Huracán and Aventador. Still, now it wants to expand…

Crypto may not have an economic anchor, but art, diamonds, gold and many other things have value only because other people value them, not from any direct economic use, writes Aaron Brown on Bloomberg. Bitcoin has fallen 50% since November. This is not unusual for the cryptocurrency; it did the same thing from April to…

On Friday, a sudden price crash followed by several days of steady losses has pushed bitcoin to its lowest level in six months, down more than 50% from the all-time high it experienced in November. Analysts told The Independent what caused the slump and why Bitcoin’s recovery may be a ‘long shot’. Typically for the…

Fantom (FTM) surpassed Binance Smart Chain (BSC) over the weekend to become the third-largest decentralized finance (DeFi) ecosystem by total value locked (TVL), as the value locked on DeFi-focused projects built on Fantom surged 52% in the past week. Ethereum remains the top DeFi protocol by value locked. On Monday, more than $12.2 billion worth…

Trading platform Robinhood has begun rolling out crypto wallets to 1,000 customers. Users from the waitlist are allowed to send and receive their cryptocurrencies from Robinhood to external crypto wallets. By March, 10,000 customers will be testing the wallets before a broader rollout in 2022. Robinhood Markets Inc. is rolling out the beta version of…

The crypto market seems to have gotten attention from Google, and the company intends to offer wallets for cryptocurrencies. To this end, Google will partner with Coinbase and BitPay to “store crypto assets in digital cards.” The final goal will be to make Google Pay a comprehensive digital wallet. Google has hired former PayPal executive…

Meta, Facebook’s parent company, is reportedly working on plans to allow users to create and sell NFTs on the social platform, as it seeks to join the race of companies trying to capitalize on the digital collectibles within its planned metaverse. The social media group is hurry to enter the hot $40 billion NFT market….

Carry1st, a South African publisher of social games and interactive content across Africa, has raised a $20 million Series A extension led by Andreessen Horowitz (a16z), with investments from Avenir and Google. Carry1st will use this funding to expand its portfolio, teams, and user base, as well as develop Web3 infrastructure in Africa to support…