For the past 14 days, cryptocurrency markets have been trading within an unusually tight 7.1% range. In other words, investors are unwilling to place new bets until there’s additional regulatory clarity, especially in the United States. The total crypto market capitalization fell by 1% to $1.2 trillion over the seven days ending May 4, primarily
There’s a beacon of light in the bear market tunnel. The El Salvador nonprofit program, “My First Bitcoin” (Mi Primer Bitcoin), raised over 1 Bitcoin (BTC) in donations-not from venture capitalists and investors–but from generous Bitcoin education advocates worldwide. Donations flooded in from Venezuelans, Poles and Canadians as 100s of people around the world sent
According to a May 4 announcement from Coinbase chief legal officer Paul Grewal, the United States Court of Appeals for the Third Circuit responded to the complaint against the U.S. Securities and Exchange Commission (SEC) regarding the need for clear rules for trading digital assets. This marks a development in the legal battle for regulatory
Russia will start to purchase Chinese yuan for its international reserves as soon as this month, according to reports from Russian economists. While analysts state that the purchases will be small and symbolic in the beginning, these will supposedly demonstrate a turnaround in the economy of the country. Russia to Purchase Chinese Yuan for Reserves
The United Kingdom’s Competition and Markets Authority (CMA) has officially stepped onto the artificial intelligence (AI) scene after it announced an examination of the impact of the technology on consumers and the economy. On May 4, the regulator said it will be looking at the development and deployment of foundation models - applications like OpenAI’s
A moderator of the popular trading subreddit r/WallStreetBets has dumped a large portion of the WSB Coin (WSB), a token project that claims to be the official memecoin of Wall Street Bets. On May 2, WSB was launched by people involved in moderating the WallStreetBets Reddit forum. The subreddit gained notoriety for the GameStop short
press release PRESS RELEASE. P2E projects have reached a dead-end due to the inherent issues of the model. Token Prices and user bases are plummeting and revenue streams of such projects are no longer functioning. So, is this it for the P2E, and is there a way out? May 4, 2023, MAHÉ, SEYCHELLES – After
International Monetary Fund (IMF) Managing Director Kristalina Georgieva expects “more vulnerabilities” in the U.S. banking sector amid a growing de-dollarization trend worldwide. “There has been a gradual shift away from the dollar,” the IMF chief acknowledged. U.S. Banking Crisis Continues The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, talked about the U.S.
Nigeria, known to be one of the world’s most curious nations about cryptocurrencies like Bitcoin (BTC), has approved the National Blockchain Policy for Nigeria during its meeting on May 3, 2023. The approval was in response to a memo presented by Professor Isa Ali Ibrahim (Pantami), the Honourable Minister of Communications and Digital Economy. The
Supported by U.S. law enforcement, police in Ukraine have disrupted a network of crypto exchange services suspected of laundering criminal proceeds. The platforms were allegedly processing dirty money obtained from ransomware attacks and various fraud schemes. Cyberpolice, US Investigators Bust Crypto Exchanges in Ukraine Officers from Ukraine’s Cyberpolice unit and Main Investigative Department, working with
Bitcoin (BTC) reclaimed $29,000 overnight into May 4 as the United States banking crisis risked spawning new victims. Gold, Bitcoin benefit from U.S. banking mayhem Data from Cointelegraph Markets Pro and TradingView tracked a swift mood change for BTC/USD, which hit $29,242 on Bitstamp. The pair had sunk to daily lows at the previous day’s
Former Chief Technology Officer at Coinbase, Balaji Srinivasan, closed out early a bet that the price of bitcoin would hit $1 million by mid-June amid hyperinflation of the U.S. dollar. Srinivasan paid a total of $1.5 million, more than the initially committed $1 million, with two-thirds of the money donated to two organizations. Former Coinbase
Four media outlets in the United States have continued efforts to get the identities of non-U.S. FTX customers revealed, filing new objections to a previous motion to seal their identities. Bloomberg, Dow Jones, The New York Times and The Financial Times first filed a motion objecting to FTX and the Official Committee of Unsecured Creditors
Decentralized finance (DeFi) protocol Curve Finance has launched its native algorithmic U.S. dollar-pegged stablecoin, dubbed “crvUSD” on the Ethereum mainnet — minting more than $22 million worth of the crvUSD so far. According to data from blockchain explorer Etherscan, the contract has minted more than $22 million worth of crvUSD in the past 8 hours,
U.S. Presidential Candidate Robert F. Kennedy Jr. has warned that “the banking collapse is the tip of an economic mega-crisis,” emphasizing that “It’s not just the banks.” He also slammed President Joe Biden’s crypto mining tax proposal. “It is a mistake for the U.S. government to hobble the industry and drive innovation elsewhere,” Kennedy stressed.
The United States securities regulator is holding off from ratifying the definition of the term “digital assets” in rules that govern reporting disclosures for hedge and private equity funds, despite proposing to do so some nine months ago. On May 3 the Securities and Exchange Commission (SEC) published amendments to Form PF — a form
Following a quarter-point increase in the federal funds rate by the Federal Reserve on Wednesday, precious metals such as silver and gold experienced a surge in value against the U.S. dollar, with gains ranging from 0.87% to 1.18%. Gold, in particular, has been on an upward trajectory, having risen by 3.4% in the past month
The former OpenSea manager who was accused of insider trading of NFTs has been convicted on May 3 of wire fraud and money laundering in a New York federal court, according to a report from Reuters. According to prosecutors, Nathaniel Chastain, a former Product Manager at OpenSea, was in charge of choosing which NFTs would
The Nasdaq-listed cryptocurrency exchange Coinbase has been accused of “wrongfully” profiting from its users’ facial and fingerprint scans. “Coinbase collects, stores, possesses, otherwise obtains, uses, and disseminates its users’ biometric data to, amongst other things, further enhance Coinbase and its online ‘app-based’ Platform,” a proposed class action lawsuit details. Coinbase ‘Wrongfully Profits’ From Users’ Facial
On May 2, 2023, Europol announced a collaborative effort between law enforcement agencies from the U.S., Europe, the U.K., and Brazil culminated in 288 arrests, along with the confiscation of 850 kg of illegal drugs, 117 firearms, and $53.4 million in cash and cryptocurrencies. This joint venture, named “Operation Spector,” successfully dismantled the darknet marketplace