Crypto Retro

2023-10-21 18:30:47 Argentina’s Central Bank Kicks off Efforts Toward Digital Peso Bill

Much has been said about the potential Central Bank Digital Currency (CBDC) of Argentina in recent times following a suggestion by Economic Minister Sergio Massa to utilize the technology for fiscal growth.

The Central Bank of Argentina has revealed plans to push for the implementation of the digital currency and will seek the bill “as soon as possible.”

Juan Agustín D’Attellis Noguera, the bank’s director stated while addressing the public on local news media, Filo that work has commenced around the legislative framework for the digital peso.

The director who has been a fan of the CBDC since its conception expresses eagerness in all stages of the rollout. In his words, the framework would be presented to the country’s legislature Congreso de la Nación Argentina “as soon as possible.”

Noguera also used the opportunity to hail the move by Massa and his approach to solving the current problems in the economy while taking swipes at the alternative which involves the use of private cryptocurrencies and the dollarization of the economy. Open / Comment

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2023-10-19 16:59:07 An announcement about the Sundae project has appeared in the public space. Bloggers, stars and opinion leaders are discussing this project.

One of the creators of Sundae published information about the project in Telegram, and 20 minutes later Ilon Musk posted a photo of himself eating Sundae ice cream as a child. It may be a coincidence, but it could also be Musk's idea.

What's known about the project. Something partly crazy, partly grandiose is coming.

Sundae: it's a crypto-token that equates to digital art. According to the project's philosophy, without community appreciation, a Picasso painting is worthless. The value of a work of art depends on community appreciation.

Right now Sundae is available for the price of an ice cream, but in a month the token may be worth $5, and then $50, $100, $1000. With each new purchase, the "Picasso painting token" will become more and more difficult to buy. The current capitalization of the project is only $20 million.

According to the project's White Paper, Sundae holders are expected to receive multi-million dollar dividends, as well as the right to medical and legal insurance, pensions and free use of the corporation's assets.

Investing in Sundae today might be like buying McDonald's stock on the day it opened in 1940 or accidentally buying a Picasso drawing for ten dollars.

The Sundae project was created by the team behind the popular meme token Grimace, which grew in value hundreds of times in six months, making many investors millionaires. Open / Comment

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2023-10-18 18:30:24 ‘Crypto Rug Pull’ Leaves ‘Hundreds’ of Central African Republic Investors ‘Penniless’

Police in the Central African Republic suspect a rug pull after the operators of a crypto firm “vanished overnight.” The news outlet RFI reported that the Research and Investigation Section (SRI) of the National Gendarmerie (the CAR’s police force) have “launched an investigation” into the firm.

Prosecutors have also launched a separate investigation into the firm, whose operators – investors say – have disappeared without a trace, taking their money with them. The company is named Clé du Succès (“key to success”).

Per an earlier report from Radio Ndekeluka, the nation’s finance ministry confirmed that the Clé du Succès company has registered with authorities and was this year issued with a tax identification number.

The firm reportedly gathered investment from “hundreds” of CAR residents. Disgruntled investors were photographed outside an apparently abandoned Clé du Succès office on October 11. Clé du Succès marketing material features coins emblazoned with the Bitcoin (BTC) logo. Open / Comment

2023-10-15 21:30:23 Terraform Labs Alleges Citadel Securities' Role in Stablecoin Depegging Conspiracy

Terraform Labs, the entity behind Terra (LUNA) and TerraUSD (UST), has accused market maker Citadel Securities of a "concerted, intentional effort" to cause the collapse of its stablecoin in May 2022.

On October 10, Terraform Labs filed a lawsuit with the United States District Court in the Southern District of Florida to call on Citadel to produce documents related to its trading actions around the time its stablecoin TerraUSD (UST) depreciated from $1 to $0.02.

Do Kwon-founded Terraform Labs, alleges that the depeg was the result of "third-party market participants" shorting the stablecoin rather than a flaw in its algorithm.

The firm says in its motion:

"Movant [Terraform] contends that the market was destabilized due to the concerted, intentional effort of certain third-party market participants to "short" and cause UST to depeg from its one dollar price." Open / Comment

2023-10-13 17:00:09 Our friends at Bets.io are holding yet another amazing giveaway, and this time it’s bigger, badder and radder! Yeah, you heard it right — this time it’s five iPhones 15 Pro 256 GB and twenty five $200 cash prizes!

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2023-10-12 20:02:02 Islamic Coin is now available for trading and deposit on KuCoin

$ISLM is now listed on KuCoin and it is available for non-Dubai residents only. Islamic Coin also announced that KuCoin is only a kickstarter and soon there will be listings on other top-tier exchangers.

Islamic Coin developers suggest that the potential audience of the token is over 2 billion people and if only 3% or 4% of this audience holds ISLM token, the capitalization will be comparable to BTC. And the project already has the biggest Twitter account among crypto Muslim community with 1.3M followers.

Also partnerships with Sushi and Pyypl will empower Islamic Coin's global community with benefits like liquidity provision, staking assets and earning tokens during the liquidity mining phase. Partnering with UK's DDCAP Group will help revolutionize the Islamic financial market, tapping into 300+ global Islamic Banks.

Even before the listing Islamic Coin has already secured $400M from private investments and from ABO Digital. Join Islamic Coin Official Telegram Channel not to miss any community rewards announcement and other on-chain activities. Explore KuCoin to trade and deposit ISLM now. Open / Comment

2023-10-12 19:01:56 EU’s Securities Regulator Weighs In On The Risk and Benefits of DeFi to the Economy

The European Securities and Market Authority (ESMA) has released a report on the development of decentralized finance (DeFi) and the risk posed by growing adoption. In a report released on Oct 11, the 22-page document highlights the risks posed by a sector that holds much promise and reshaped finance in the region.

According to the document, the DeFi has led to the innovation of financial products making payments easier and aiding financial inclusion to cater to the unbanked around the world.

ESMA stated that the development of DeFi has notched several positives relating to transaction speed, cost, and security to an extent against traditional finance but added that its application in some areas poses a significant risk.

“DeFi could contribute to greater financial inclusion by allowing users to access products and services without an intermediary who may selectively restrict access.”

Still on the positive, the document recommends the openness of blockchain technology as it records transactions on immutable blocks without the existence of intermediaries and “central counterparties.”

Smart contracts made decentralized finance possible creating “innovative financial products” that range from futures contracts, automated market makers, flash loans, etc. Open / Comment

2023-10-12 16:00:12 The highly-anticipated NFT football strategy game, Organya, is set to debut in just 8 days!

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Follow Organya on Twitter to stay updated! Open / Comment