US Treasury Secretary Scott Bessent highlighted that the global trading system was historically tied to gold until President Richard Nixon ended the gold standard in 1971. Bessent noted that what was intended as a temporary measure has now lasted 55 years. The comment underscores the significant shift in monetary policy that moved the world away from commodity-backed currency to fiat money systems.
Archives: Fast News
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CZ advocates for block explorers to remove spam transactions to prevent address poisoning attacks
CZ stresses the importance of filtering spam transactions in block explorers to protect users from address poisoning. He highlights existing capabilities in wallets like Trust Wallet and acknowledges the manageable impact on AI micropayment transactions despite rising automated attacks.
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U.S. House Financial Services Committee Chair: The Clarity Act is anticipated to bridge regulatory gaps left by the Genius Act
French Hill emphasized the requirement for the CLARITY Act to fill regulatory gaps. The act passed with bipartisan support and seeks to establish clear regulations for stablecoins in the U.S. Financial market.
While a consensus exists that stablecoins should not yield returns to holders, concerns about how crypto companies will be regulated compared to traditional banks still remain.
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XRP exchange outflows accelerate as ETF demand builds
XRP is experiencing increased outflows from centralized exchanges, signaling potential supply tightening as institutional demand through ETF products grows. The combination of declining exchange reserves and rising ETF inflows suggests investors are moving tokens off trading platforms, which typically precedes periods of reduced selling pressure. If outflow trends continue, tighter XRP liquidity on exchanges could affect trading dynamics.
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BlackRock says exotic crypto ETFs not part of its strategy
BlackRock launched a staked Ether exchange-traded fund on Thursday, expanding its crypto offerings beyond its flagship spot Bitcoin and Ether ETFs. The move reflects the asset manager’s selective approach to crypto products, with executives stating that exotic or speculative crypto ETFs remain outside their strategic focus. BlackRock continues to concentrate on core, regulated cryptocurrency exposure through traditional ETF structures.
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Flare Smart Accounts expand XRP utility on XRPL
Flare Networks introduced Smart Accounts designed to let users transact on the XRP Ledger while Flare handles the smart contract layer in the background. The feature is expected to expand over time, bringing additional Flare functionality to XRPL users with reduced friction.
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Orca SOL-USDC pool offers 74.48% APY on Solana
The SOL-USDC liquidity pool on Orca (Solana) is offering 74.48% APY with $29.4M total value locked. High yield rates of this magnitude typically indicate elevated impermanent loss risk and volatility. Users should carefully assess risk factors before committing capital to such pools.
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One in five stablecoin holders keeps over half savings in stablecoins
Data shows that approximately 20% of stablecoin holders maintain more than half their savings in stablecoins, reflecting growing reliance on these dollar-pegged assets. The trend is attracting significant competition, with around 140 new stablecoin issuers entering the market to capture this expanding demand. The shift underscores how stablecoins have become a core tool for crypto users seeking to preserve capital without exiting the digital asset ecosystem.
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Sui ecosystem sees DeFi upgrades and sports partnerships this week
The Sui blockchain ecosystem delivered multiple updates this week. Navi Protocol launched Multiply and E-Mode features, allowing users to automate leverage strategies and optimize borrowing for correlated assets like SUI and vSUI. One Championship partnered with Sui to showcase blockchain speed through the Fastest Finishes event to 190+ countries. Suuuiplash Heroes NFT mint launches March 18 using zkLogin for Google account-based access, eliminating traditional wallet requirements. Vera App added native notifications for trades, DCA orders, and liquidity positions on Sui. Scallop completed the first Comprehensive Formal Verification report for a full protocol on Sui. Linq V2 goes live March 18 to enable real-world stablecoin payments on the network.
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Cambridge study reveals that 72-92% of submarine fiber optic cables must be cut simultaneously to significantly disrupt the Bitcoin network
The study indicates that random failures would require 72% to 92% of submarine cables to be affected simultaneously to impact node connectivity significantly.
In over 87% of cable failures analyzed, the effect on Bitcoin nodes was less than 5%, demonstrating the network’s robustness.
The Bitcoin community is evolving to build a more censorship-resistant infrastructure, enhancing resilience against targeted attacks.