Basel Study Shows World’s Largest Banks Are Exposed to $9 Billion in Crypto Assets

A first-of-its-kind study published by the Basel Committee on Banking Supervision details that the world’s largest financial institutions are exposed to roughly €9.4 billion (US$9 billion) in crypto assets. The research paper authored by the Basel Committee’s secretariat Renzo Corrias further......

Chinese Central Bank Says It Will Prioritize Stabilizing Currency After Yuan Plunges to 14-Year Low Versus USD

Moments after the Chinese yuan’s onshore exchange rate versus the U.S. dollar slumped to 7.2458 per dollar, the Peoples Bank of China responded by stating that it will prioritize stabilizing the currency. Similar to other currencies that have been depreciating against......

South African Financial Services Giant Nedbank Secures a ‘Village’ in the Metaverse

The South African financial services giant, Nedbank, is reported to have acquired a village in the metaverse. The village will be used to showcase African creativity and to create experiences that “go beyond banking.” By securing a virtual property in Ubuntuland,......

Nicolas Maduro Tempts West With an Abundance of Oil and Gas, Venezuelan President Wants Sanctions Lifted

Amid the economic rumblings across the world and the energy crisis in Europe, Venezuelan president Nicolas Maduro has said his country is ready to step up and help with oil. Despite the fact that Venezuela has the largest supply of crude......

Uniswap Foundation to Distribute $1.8 Million in Grants to 14 Recipients

The Uniswap Foundation (UF), the group behind the decentralized exchange (dex) Uniswap, announced the first wave of foundation grants on Wednesday as it plans to distribute $1.8 million total, awarded across 14 grants. The UF announcement details that a touch more......

‘Ultra Sound Money’ — Post-Merge Stats Show Ethereum’s Issuance Rate Plunged After PoS Transition

Months before Ethereum transitioned from proof-of-work (PoW) to proof-of-stake (PoS), a simulation of The Merge had shown the network’s issuance rate would drop following the ruleset change. Statistics now show that the simulation’s predictions have come to fruition as the network’s......