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Crypto Exchange Bybit to Add New Restrictions for Unverified Users, Update Withdrawal Limits

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Cryptocurrency exchange Bybit has announced upcoming changes to its know-your-customer (KYC) policy that will limit certain operations for unverified customers. The stricter requirements concern coin purchases with fiat money, NFT transactions, and withdrawal limits. Bybit to Limit Services for Traders Who Have Not Passed Identity Verification Crypto exchange Bybit will restrict some services that are … Read more

Stellantis Owned Fiat Launches Metaverse Store Using Touchcast and Microsoft Tech

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Fiat, an automotive brand property of Stellantis, has launched its first metaverse-based store, which the company claims is the first showroom of its kind. The experience, which was developed with tech supplied by Touchcast and Microsoft, aims to make the virtual process of reviewing a car more interactive. Fiat Introduces Metaverse-Based Store Fiat, an automotive … Read more

USDC’s Market Cap Sheds Close to $4 Billion in Less Than 20 Days, Binance’s BUSD Climbs 3%

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19 days ago, usd coin (USDC), the second largest stablecoin by market capitalization, had an overall valuation of around $48.82 billion and since then, it has continued to deflate down to today’s $44.93 billion. Statistics show that during the last three months, USDC’s market valuation has dropped by more than 19%, shedding approximately $10.59 billion. … Read more

FX Strategists From Citi Say Euro Could Sink to $0.86 if Macro Turmoil Continues

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While the euro has found support between 0.96 to 0.97 nominal U.S. dollars per unit, foreign exchange (FX) strategists from Citi believe the euro could tap a low of around $0.86 against the greenback. While the dollar slumped on October 13, the fiat currency is rising again and market strategists from Citi argue that the … Read more

Chinese Researchers Propose Asian Digital Currency to Reduce Reliance on US Dollar

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Experts from an economic institute in China have circulated the idea of creating a blockchain-powered digital currency that could lower Asia’s reliance on the greenback. The initiative comes against the backdrop of an expanding digital yuan pilot, and after recent trials of cross-border payments with state-issued digital currencies in the region. China Suggests Minting Asia-Wide … Read more

War Spurs Crypto Activity in Russia and Ukraine, Chainalysis Reports

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The deadly conflict that started with Russia’s assault on Ukraine has increased crypto-related activity in both countries, according to Chainalysis. Fiat inflation and sanctions pressure led to several spikes in transaction volumes this year, the blockchain forensics firm has found, while Eastern Europe as a whole sustained its role in the global crypto ecosystem. Russians … Read more

Stablecoin Economy Continues to Deflate — USDC’s Market Cap Shed $6.7 Billion in 83 Days

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Just over two months or approximately 83 days ago, the stablecoin usd coin (USDC) had a market valuation of around $55.52 billion and since then, USDC’s market capitalization has lost 12.05%. For most of 2022, the second largest stablecoin by market capitalization, USDC has been above the $50 billion mark, but this week the crypto … Read more

Euro Taps a $0.973 Low Against the US Dollar, Analysts Claim British and EU Currencies Are Trapped in a ‘Doom Loop’

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On Friday, the official fiat currency of 19 out of the 27 member states of the European Union (EU), the euro, plunged to a low of $0.9732 against the U.S. dollar. The drop comes at a time when fiat currencies like the yen, yuan, and pound have struggled against the greenback during the past six … Read more

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