When liquidity is low in any financial market, volatility is high in both directions. Prices have less support on both the downside and the upside. In this instance, the narrative of bitcoin as a hedge against financial calamity gave BTC the push it needed. But there was little upside resistance to hurdle over: BTC market depth, the number of orders waiting to be filled on an order book, reached 10-month lows this week – that’s lower than levels seen since the collapse of the FTX exchange and sister firm Alameda Research.

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On a more mechanical level, that means using bad tactics like bad sourcing or selective sourcing or the bias of omission or the bias of commission. They’re increasingly doing this to advance an agenda – and that could be financial, it could be political or they are doing it to advance a thesis. With journalists, the temptation is always there, right? You come in with a hunch, you come in with a great idea. But as the standard of objectivity is loosened in the news media, these types of practices are encroaching on neutrality, and disinterestedness, and dispassionateness.

Ether, the second larges crypto in market value, was recently changing hands at $1,810, up 4.6% from Wednesday, same time. Other major cryptos were largely in the green, regaining ground lost the previous day. Stablecoin XRP and TRX, the token of blockchain-based platform Tron Network, recently rose 5.7% and 9.4%, respectively. TRX dropped the previous day after the U.S. Securities and Exchange (SEC) charged its founder with selling and airdropping unregistered securities, fraud and market manipulation. Litecoin continued its recent momentum, rising 7.8%. The CoinDesk Market Index, a measure of overall market performance, was up 4.2%.

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The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Whether the U.S. participates or not, the rest of the world is exploring and deploying CBDCs. According to the Atlantic Council, 114 countries, representing more than 95% of global gross domestic product, are exploring CBDCs. Actively engaged in this digital gold rush are 19 of the G-20 countries, including India, Japan, Russia and South Korea, each of which has made significant recent progress. The European Central Bank is expected to introduce a prototype for a “digital euro” by the end of 2023, becoming more widely available by 2025. The central banks of some of the freest societies on Earth – from Sweden to Japan and England – are exploring their own CBDCs.

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

These are set to be built in partnership with China Telecom, the second-largest wireless carrier in China with an estimated 390 million subscribers, as CoinDesk has reported. China Telecom will launch the first BSIM pilot program in Hong Kong later this year, Conflux Network said at the time. This will likely be followed by pilots in key mainland China locations such as Shanghai. The BSIM card will manage and store the user’s public and private keys in the card and carry out digital signatures in a way that the private key does not exit the card. Users who switch to a BSIM card will be able to store digital assets safely, transfer their digital assets conveniently and display their assets in a variety of applications. CoinDesk spoke with Ming Wu, Conflux’s chief technology officer, to understand more about the BSIM, Conflux’s future plans, how the card is different than a crypto wallet and the disadvantages of using BSIM.

On the issue of instant payments networks, the U.S. is already behind many of its G-20 counterparts, and is hoping to catch up with FedNow this year. FedNow, however, does not connect individuals with CBDCs. Its audience is financial institutions, which will be able to finalize transactions faster with each other, if the program is ever fully rolled out. It will also not offer other benefits such as interoperability with other assets and technological benefits of transaction speed, cost and, most of all, transparency in money flows. Experimentation on the digital dollar should be done in tandem with the FedNow rollout and all options to improve payments should be on the table.