In a pioneering move in the western Pacific, an island nation is embracing Ripple's technology to digitize its currency system. Palau, the Republic situated in the Pacific, is venturing into the world of cryptocurrencies by building its own Stablecoin on the XRP Ledger.
Elon Musk, the enigmatic entrepreneur, is no stranger to the world of cryptocurrencies. With his influential tweets often impacting the market, he has demonstrated a keen interest in the digital asset space. Now, with his recent announcement of renaming Twitter to "X" and changing its logo, speculation has arisen that this move could potentially pave the way for Twitter to become one of the biggest crypto exchanges.
Cryptocurrencies have been revolutionizing the financial world, and one of the most crucial events is "Crypto Halving." The number of Bitcoins, for example, is limited to 21 million. More than 19 million Bitcoins have already been mined, leaving under 2 million left to be created. The Bitcoin protocol periodically reduces the number of new coins earned by miners in a process called halving.
The crypto lending giant Celsius Network LLC is one of the highest-profile victims of the dawning Crypto Winter. On 12 June 2022, the company froze all withdrawals. Last week, rival lender BlockFi said it had struck a deal for a $250 million line of credit from a crypto exchange amid concerns by its own depositors. Financial services titan Goldman Sachs is reportedly raising $2 billion to purchase discounted assets from Celsius.