Today’s Crypto Updates

For those wanting the latest insights in cryptocurrency, here’s a brief on some notable events.

European Central Bank Advances Digital Euro Initiative

The European Central Bank (ECB) has taken steps towards the launch of a digital euro by forming agreements with technology providers. Services will focus on managing fraud and risk, secure payment exchanges, and software development.

In a recent announcement, the ECB confirmed agreements with multiple firms including Feedzai and Giesecke+Devrient for these pivotal services. CEO Dr. Ralf Wintergerst stated, “Following the framework agreement conclusion, G+D and other successful tenderers will work with the ECB to finalize planning and timelines.”

Plasma Cooperation’s Tokens Experience Dramatic Drop

Plasma’s founder, Paul Faecks, refuted claims of insider sales after the XPL token lost over 50% of its value. Allegations suggested team members sold tokens amid a market downturn, but Faecks assured that all allocations remain locked for three years.

Sweden Considers Bitcoin Reserve Strategy

In an effort to adapt to current economic dynamics, members of Sweden’s Riksdag, Dennis Dioukarev and David Perez, proposed investigating the establishment of a national Bitcoin reserve as part of a strategy to combat inflation and rationalize state holdings. They emphasized the importance of joining the global momentum towards digital currencies.

XPL/Tether contract chart Source: TradingView

Stay tuned for further updates in the cryptocurrency sector.