Investment Learning

  • March 26, 2024

SWIFT Plans to Launch New Platform Connecting CBDCs to Existing Financial Systems

According to Foresight News, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) plans to launch a new platform within the next 1 to 2 years that will connect central bank digital currencies (CBDCs) currently under development to existing financial systems. The latest tests involve 38 central banks, commercial banks, and settlement platforms, with a focus on interoperability between different CBDCs. The trials also explore the potential of CBDCs for complex trade or foreign exchange payments and transaction automation to speed up processes and reduce costs. SWIFT is considering productizing the new platform within the next 12-24 months, aiming to transition from the experimental stage to reality.

Read More
  • March 25, 2024

SEC to Release Public Brief on Ripple Lawsuit, Impacting Crypto Industry

According to Bloomberg, the Securities and Exchange Commission (SEC) is set to release a public brief on Tuesday regarding its lawsuit against Ripple. The SEC sued Ripple in 2020, alleging that the company violated its rules by raising funds through the sale of the digital token XRP without registering it as a security. The outcome of this case is being closely monitored by the cryptocurrency community due to its potential implications for the SEC's jurisdiction. In a development seen as a setback for the SEC's authority, a federal judge ruled in July that sales of XRP to retail investors on exchanges did not constitute investment contracts. Following this news, XRP's value increased by approximately 4% to 66 cents on Monday. The token has experienced a growth of around 6% this year.

Read More
  • March 25, 2024

South Korean Billionaire Kwon's TerraUSD and Luna Tokens Face Pandemic-Era Implosion

According to Bloomberg, South Korean billionaire Kwon, 32, left Stanford University in 2015 with a computer science degree. His TerraUSD, an algorithmic stablecoin, and its sister token Luna experienced a significant increase in value during the pandemic. However, TerraUSD's implosion shook the digital token market globally, exacerbating a $2 trillion wipeout. Kwon's Terraform Labs has rejected the South Korean charges, stating that the case against him has become a 'billionaire.'

Read More