Cryptocurrency Current Affairs, GK & News

The Collapse of FTX Cryptocurrency Exchanges

The FTX – one of the world’s largest cryptocurrency exchanges – collapsed. Its founder, Sam Bankman-Fried’s fortune fell from nearly 16 billion USD to zero within days after his company filed bankruptcy protection in the United States in November 11. Why did FTX collapse? Short-term reason In the short-term, the FTX collapsed because of the ..

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MENA region – world’s fastest crypto adopter

The Middle East and North Africa (MENA) region is the fastest growing cryptocurrencies market in the world. Key facts The 2022 Global Crypto Adoption Index released by the blockchain researcher Chainalysis revealed that the Middle East and the North Africa (MENA) region witnessed 48 per cent increase in the volume of cryptocurrency received – the ..

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“The Merge” of the Ethereum

Ethereum – the world’s second largest blockchain – has transitioned from the legacy “proof-of-work” to a “proof-of-stake” consensus mechanism. Key facts The Ethereum Merge is an upgrade that changes how new crypto transactions take place on the blockchain. The Ethereum Merge is the joining of the Ethereum’s proof-of-stake (PoS) Beacon Chain with the Ethereum Mainnet. ..

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Norway’s central bank digital currency

Norway’s central bank – Norges Bank – recently hit a major milestone in its digital currency development efforts by releasing the open source code for the country’s CBDC sandbox based on the Ethereum technology. Key facts Norway’s CBDC sandbox, which is accessible on GitHub, was created to provide user interface (UI) for engaging with the ..

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What is Crypto Jacking?

According to recent report, Crypto Jacking has increased to a record high in 2022, even though the number of digital assets has decreased. In the first half of 2022, the number of global crypto jacking has increased by approximately USD 66 million as compared to 2021. About Crypto Jacking: It is a type of cybercrime, ..

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Dubai Virtual Assets Regulation Law

Dubai has introduced crypto asset regulation, joining the ranks of Singapore, the United States, the United Kingdom, El Salvador, and other countries that have enacted cryptocurrency laws. The Virtual Asset Regulation Law has been passed by Dubai to regulate this new-age industry, which has been rapidly expanding. Overview: An independent regulator has also been formed ..

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