The blockchain industry is moving at a quarry rate. Every week, dozens of stories all over the world show how blockchain technology, digital currencies, tokenizationAnd related techniques are tested, piloted and used to create game change solutions.
The following is a summary of some of the most important stories in blockchain for the week that ended on February 21st. Last week, one of the largest exchange chips in history, several Stablecoin stories and some significant features of governments and institutions.
Bybit -Hack: $ 1.4 billion away in minutes
Over the years, Coeingeek has covered Some massive hacks within the digital currency. But Bybit Hack History is the largest in history.
According to the first reports, ETH and second tokens were emptied of $ 1.4 billion from the United Arab Emirates UAE-based exchange. Details are still sparse, but according to Bybit changed attacker Smart contract logic and gained control over Cold wallet.
The technical details do not matter so much; The most important thing is that we have once again seen how uncertain centralized exchanges are. Unlike banks, users of Federal Deposit Insurance Corporation (FDIC) and similar security networks are not covered. While Village claims that it has means to cover lossUsers can only wait and hope it is true.
More news about StableCoin projects
Stablecoins have been in the headlines since US President Donald Trump ordered his government To form a working group and craft regulations that govern them. Several bills have been introduced and hashs currently by legislators.
This week, more remarkable Stablecoin news saw. Brazilian FX Bank Braza announced that it had launched a Brazilian real (BBRL) Stablecoin. The public pilot of Nigeria’s regulated Stablecoin CNGN also went liveProve NaySayers in the country wrong.
Stablecoins continue to be Killer app in the blockchain space. With private banks and governments all over the world that launches them seemingly every week, we are likely to continue to see an relentless upward in Stablecoin adoption in the coming months and years.
Tokenized bonds and private credit funds
At the beginning of 2024, Blackrock (Nasdaq: Blk) CEO Larry Fink said Tokenization of everything comes. When it comes to financial products, it looks like he was right.
This week, Thailand announced that it will launch a tokenized government bond of $ 148 million. Thai Finance Minister Pichai Chunhavajira said that the government will issue 5 million baht ($ 149,548) bonds directly to the public by September 30. The trial will allow retail investors to participate, and they can buy and sell all amounts of the digital bond platform.
In other newsNasdaq: IVZ) collaborated with Singapore-based Digift to launch a tokenized private credit fund. It is one of many asset managers who work with tokenization after the Black Rock Buidl Fund was launched in March 2024.
Announcements from Hong Kong, Israel and ECB
In Asia published Hong Kongs Securities and Futures Commission (SFC) a 12-point roadmap to establish yourself as a global digital asset hub. The plan involves accelerating exchange licenses, prioritizing without disk (OTC) and custody services, increasing investors’ protection and creating adaptive legislation.
In the Middle East, the Bank of Israel released the results of a surveying interest in one Digital Shekel Central Bank Digital Currency (CBDC). 51% of respondents expressed high or intermediate interest rates. 21% responded with very high interest rates (10), while 16% responded with very low interest rates (1). Unlike in many other countries, privacy Don’t be a problem. Instead, respondents saw cyber security and inaccessibility for the elderly as the biggest problems, while usability and convenience were the most important pages.
In Europe, the European Central Bank (ECB) announced a two-track DLT settlement plan for Wholesale CBDC solution. A temporary settlement platform will be introduced in the coming months, followed by a more integrated platform. The long -term solution will support international transactions and currency settlement.
These stories, all in just a week, show how Blockchain technology, DLT, tokenization and digital currencies change the world a trial and experiment at a time. It was always about tools and with public blockchains like BSV now reaches one million transactions per second (TPS), thanks TeranodeIt is only a matter of time before everything is collected on a single, scalable public book.
See: Tokenovate Milestones Unveiled at London Blockchain Conference
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