Author: Ujunwa Juliet Ihiasota

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Ujunwa Juliet Ihiasota

I am a dedicated crypto and blockchain content writer who is vision-oriented, diligent, smart, and self-motivated. I have over a decade of self-writing experience and five years of experience as a professional writer. I hope to inspire other women into this ever-evolving field.

Articles by Ujunwa Juliet Ihiasota

EOS Network Ventures Commits $20M to Develop Dapps and Gaming Products on EOS Blockchain

7 days ago 1 min read

EOS Network Ventures (ENV) has announced that it will invest $20 million directly into EOS EVM and GameFi projects. This investment is aimed at attracting developers and builders to the EOS blockchain, following the launch of the Ethereum Virtual Machine (EVM) in April. With the most funding available for builders, EOS EVM is set to receive a massive influx of developers who want to take advantage of the funding opportunities. ENV’s commitment is expected to accelerate the growth of EOS-based decentralized applications (dapps) and decentralized finance (DeFi) applications, and ultimately boost the value of eos token prices in the coming

Switzerland reportedly getting ready for UBS to acquire Credit Suisse with emergency plans

1 week ago 1 min read

According to sources familiar with the situation, the Swiss National Bank and Switzerland’s financial regulator, FINMA, are preparing emergency measures to accelerate the takeover of Credit Suisse by UBS, Switzerland’s largest bank. The takeover is deemed the “only option” to prevent a “collapse in confidence” in Credit Suisse. The measures would allow the deal to proceed without a shareholder vote and bypass Swiss regulations requiring a six-week consultation period for shareholders to review the acquisition. The SNB and FINMA are reportedly working to reach a regulatory agreement by Saturday night to finalize the acquisition before markets open on Monday. UBS

Lawmaker Blames Crypto Instability for Signature Bank’s Collapse

1 week ago 1 min read

United States senator Michael Bennet has criticized banks associated with crypto firms for making “prudentially unsound” decisions. During a hearing of the Senate Finance Committee on March 16, Bennet referred to the recent closure of the crypto-friendly Signature Bank and compared the relationship between banks and crypto firms to that of institutions and marijuana dispensaries. Bennet stated that a legal service in many U.S. states, marijuana dispensaries, is “frozen out of the financial system” while Signature Bank failed, with almost a fifth of its deposits coming from crypto. Bennet implied that crypto may have been a factor in the bank’s

EU Ministers Urge Merchants to Embrace Digital Euro Payments

2 weeks ago 2 mins read

Merchants in the euro area may soon be required to accept the digital euro as legal tender, according to a recent development in the world of finance. The move is said to be in response to the increasing demand for a cashless payment system, which has been fueled by the COVID-19 pandemic. The proposal, which was presented to finance ministers in a paper seen by CoinDesk, suggests that giving the central bank digital currency (CBDC) the same status as banknotes and coins would mean payments legally discharge obligations to pay. The paper goes on to state that with mandatory acceptance

Coinbase and Binance Temporarily Suspend USDC Conversions Amidst Concerns over Dollar Peg Stability

2 weeks ago 1 min read

On Friday night, the world’s top cryptocurrency exchanges, Binance and Coinbase, announced that they would temporarily suspend USDC conversions. This comes amid concerns that Circle, the issuer of USDC, holds some of its cash reserves at Silicon Valley Bank, which was closed by California’s financial regulator on Friday. Binance cited “current market conditions” and temporarily suspended the auto-conversion of USDC to BUSD while it monitors the situation. Similarly, Coinbase, the largest cryptocurrency exchange in the US, said it would suspend USDC conversion to USD over the weekend as banks are closed, citing the need for USD transfers from the banks

SWIFT to Launch Second Phase of CBDC Pilot Program After Successful First Phase

2 weeks ago 1 min read

Interbank messaging company SWIFT has announced that its project to interconnect central bank digital currencies (CBDCs) has shown “clear potential and value.” The project, which involved several banks such as BNP Paribas, Intesa San Paolo, and Standard Chartered, as well as French and Singaporean central banks, will now proceed to a second phase. During the second phase, SWIFT will conduct beta testing and explore further applications such as conditional payments, trade finance, and securities settlement. The move comes amid a growing interest in CBDCs, with countries like The Bahamas and Nigeria already issuing digital versions of their national currency, while

WeChat Pay Integrates Digital Yuan App for Faster Payments, Boosting Adoption of CBDC

3 weeks ago 1 min read

WeChat Pay, one of China’s most popular apps, has now integrated the digital yuan app for faster and more convenient payments. This integration is expected to help drive the adoption of the central bank digital currency (CBDC) in the country. As reported by the Global Times, WeChat Pay now directly supports the digital yuan app, allowing users to make payments with their CBDC wallets in WeChat’s mini-programs. While there is currently a transaction limit of 2,000 yuan or $289, the daily limit is set at 5,000 yuan or $720. However, the app is expected to add more use cases and

Binance Reportedly Explored Hiring Gary Gensler in 2018 as Part of Plan to Foster Closer Relationship with US Regulators

3 weeks ago 1 min read

According to a recent report by the Wall Street Journal (WSJ), crypto exchange Binance had attempted to hire Gary Gensler, the current chairman of the United States Securities and Exchange Commission (SEC), as an adviser in 2018 and 2019. Gensler, who was then teaching at the Massachusetts Institute of Technology, was approached by Binance’s executives, including Ella Zhang, then head of Binance’s venture investing arm, and Harry Zhou, co-founder of Binance-invested firm Koi Trading. Despite declining the adviser position, messages from Binance’s executives suggest that Gensler was generous in sharing license strategies. The report also highlights the relationship between Binance

Australia’s Central Bank Unveils CBDC Plans with Industry Leaders

3 weeks ago 1 min read

Central Bank Digital Currencies (CBDCs) have been gaining traction globally, with central banks exploring the potential of issuing their own digital currencies. The Reserve Bank of Australia (RBA) is the latest central bank to jump on the CBDC bandwagon, with plans to launch a “live pilot” of its CBDC. A CBDC is a digital currency that is issued and backed by a central bank, designed to function as a digital equivalent of physical cash. CBDCs are seen as a potential solution to the challenges posed by traditional payment systems, such as slow transaction times and high transaction fees. The RBA’s

Solana Network Proposes Upgrades to Address Recent Outage

4 weeks ago 1 min read

Solana, a popular blockchain network, is taking steps to improve its network reliability following a significant outage that occurred on February 25. This outage lasted close to 20 hours and was the first interruption of service to occur in 2022. However, the network has faced 11 major outages and 3 minor ones, leading to a reputation for poor network reliability. Anatoly Yakovenko, co-founder of Solana, stated that last week’s outage was related to the 1.14 network update, which was meant to bring speed and scale improvements. However, the rollout of the update triggered significant network degradation, and the cause is

Frax Finance Plans to Move Away from Algorithmic Backing in Response to Stablecoin Regulations

1 month ago 1 min read

Frax Finance, a decentralized finance stablecoin protocol, has announced that it will fully collateralize its native stablecoin, Frax (FRAX), ending the algorithmic backing of the protocol. The FIP-188 governance proposal, posted on February 15, has now reached a quorum with 98% voting in favor, according to a snapshot on February 23. The initial protocol included a “variable collateral ratio” that adjusted based on the market demand of the stablecoin. The hybrid model resulted in the stablecoin being 80% backed by crypto asset collateral and partially stabilized algorithmically. The new proposal plans to retain protocol revenue to fund the increased collateral

Crypto game company Immutable lays off staff for second time in less than a year

1 month ago 1 min read

The Australian blockchain gaming company Immutable has made its second round of layoffs, cutting 11% of its staff. According to the Sydney Morning Herald, CEO James Ferguson explained that the cuts were necessary to extend the company’s runway and concentrate on the most important projects. The changes will involve outsourcing the development of more traditional game aspects to partners and reorganizing some of its divisions. The developer, known for its blockchain trading card game Gods Unchained, had previously laid off over 20 employees, or about 8% of its total headcount in July 2022. Immutable is a pioneer in blockchain and