December 5, 2020

Cryptheory

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Crypto news of the day (6.1.)| Qatar banned cryptocurrency trading • John McAfee backs off his promise • and other news

2 min read
Crypto news of the day (6.1.)| Qatar banned cryptocurrency trading • John McAfee backs off his promise • and other news

Cryptocurrencies

State digital currencies and stablecoins

Regulations

Blockchain/Technology

3 million ETH is now blocked in DeFi applications


Almost 3% of all ETHs are now blocked in decentralized financial applications (DeFi). This has also exceeded ETH 3 million for the first time, with the decentralized tokenized dollar – DAI – significantly dominating. The total value of such blocked ETH is currently approximately 420 million USD.

Large pools cause centralization of Cardano

Cardano’s largest pools are currently overcrowded. Accurate statistics change over time, but the problem has been observed for several weeks. AdaPools.org suggests that 18 out of 249 active Cardano staking pools have been full since January 4. In terms of value, 33% of all ADAs were allocated only 7% of active pools. IOHK considers it to be a saturated pools with more than 1% of all funds deposited. Users who do not switch to less saturated pools receive lower rewards – a major incentive to prevent pool centralization.

Centra Bank of China claims that the development of China’s state digital currency is on schedule


The People’s Bank of China (PBoC), the country’s central bank, said the development of its digital currency was “moving smoothly.” This was announced by the central bank at its annual working conference held in Beijing last week. However, the PBoC has not yet announced the start date. “We will continue to make constant progress in the development of legal digital currencies,” the central bank said.

Stablecoin BUSD from Binance has been approved by US authorities


Stablecoin of Binance stock exchange tied to USD, BUSD, has been approved by the notoriously strict regulatory authority in New York, the New York State Department of Financial Services (NYDFS). Stablecoin BUSD is directly tied to the US dollar at a 1: 1 ratio and provides users with the ability to digitize their money.

Crypto news of the day (6.1.)| Qatar banned cryptocurrency trading • John McAfee backs off his promise • and other news

John McAfee backs away from his promise, claiming BTC is an outdated technology

John McAfee was just backing out from one of the wildest bets in cryptocurrency history. In his recent tweet, he explained that his promise to eat his own penis if the price of Bitcoin did not exceed $ 1 million by 31 December 2020 was simply a “ruse” to attract new users.

Crypto news of the day (6.1.)| Qatar banned cryptocurrency trading • John McAfee backs off his promise • and other news

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