Former U.S. President Donald Trump has acknowledged the push that China is making to dethrone the dollar as a reserve currency. In a post published on Truth Social, Trump stated that if this comes to happen, it would be the biggest defeat in the history of the U.S. in the last 200 years. Donald Trump
Bitcoin (BTC) stuck to a narrow trading range into April 7 as crypto analysts awaited the week’s main United States macroeconomic data. $30,000 or $25,000 for Bitcoin? Data from Cointelegraph Markets Pro and TradingView confirmed another day’s ranging around $28,000 for BTC/USD. The pair had shunned volatility over most of the week, but now faced
The International Organization of Securities Commissions (IOSCO) will launch a consultation for its regulation report on crypto assets in Q2 2023. The final recommendations from the organization are planned to be published by the end of 2023. The dates are scheduled in IOSCO’s work program for 2023–24. Two major workflows are dedicated to decentralized assets
The U.S. luxury brand Ralph Lauren has said customers can now pay via crypto at its Miami Design District location. The store has also been designated the luxury brand’s focal point for Web3 promotions. Bitcoin, ethereum, and polygon are among the cryptocurrencies that are accepted at Ralph Lauren’s new store in Miami. Miami Store Ralph
Peter Schiff, economist and known gold bug, believes that the current price uptick that gold is currently experiencing will extend in the future, surprising stock traders. Schiff stated that gold stocks were the new tech stocks and that Wall Street’s indifference regarding these would lead to massive market capitulation. Peter Schiff Warns of Gold Rally:
A widely shared video of European Central Bank (ECB) President Christine Lagarde admitting that a Digital Euro will be used in a “limited” way to control the payments people can make was taken from the three week old prank video. The video was highlighted by breaking news account Watcher Guru on April 6 and generated
Swedish crypto tax firm Divly has released a new report that estimates that only 0.53% of crypto investors globally paid tax on their crypto in 2022 — however tax experts have cast doubt on the figures and methodology. The Divly report published on April 5 came up with the estimate after analyzing the relationship between
A new protocol that allows Ethereum validators and stakers to “re-stake” their assets onto other emerging networks has just launched on testnet. The mainnet launch of the EigenLayer protocol is not expected until Q3 however, and testing will be phased in three stages to onboard various participants into the ecosystem. The first stage is using
On April 6, 2023, Bitcoin’s difficulty rose 2.23% higher at block height 784,224, touching another all-time high. It’s the fourth consecutive difficulty increase on the Bitcoin network since Feb. 24, and the protocol’s current difficulty is 47.89 trillion, which is only 2.11 trillion away from reaching the 50 trillion range. Bitcoin Difficulty Jumps 2.23% Higher
The financial and advertising regulators of the United Kingdom have teamed up to send a warning to social media “finfluencers” telling them to stop promoting illegal “get rich quick” schemes or face law enforcement. The Financial Conduct Authority (FCA) and the Advertising Standards Authority (ACA) made reference to cryptocurrencies and nonfungible tokens (NFTs) in its
Dubai’s Virtual Assets Regulatory Authority (VARA) has reportedly asked Binance to share more information about the crypto exchange’s ownership structure and its auditing procedures. According to reports, Dubai regulators are still keen on fostering innovation but without comprising the security of users’ funds. Binance Asked to Provide More Information The collapse of the crypto exchange
Following Bitcoin’s (BTC) stellar start to 2023, SkyBridge Capital founder Anthony Scaramucci believes “we’re through the bear market” and expressed confidence in his firm’s crypto investments. However, “the Mooch” qualified the statement by adding, “That is a guess. We don’t know.” In an April 6 interview with Yahoo Finance, Scaramucci noted that Bitcoin has consistently
The Washington State Department of Financial Institutions (DFI) has issued a consumer protection alert addressing the “alleged cryptocurrency exchange” known as Eucoinotrade. At least one person may have fallen victim to what appears to be “advanced fee fraud,” per the report. This is a confidence scheme that involves soliciting large sum payments for fees under
Adrienne A. Harris, the superintendent of New York’s Department of Financial Services, has branded as “ludicrous” the claims that the closure of Signature Bank was related to its crypto business. Harris insisted that the bank’s “high percentage of uninsured deposits” and insufficient liquidity were some of the reasons why it was closed. Signature Bank’s Liquidity
Matter Labs, the team behind Ethereum layer 2 scaling solution zkSync, has denied that 921 Ether (ETH) worth $1.7 million will be “stuck forever” in one of its new projects. The statement comes as one zkSync project is currently experiencing issues in transferring the funds that it accumulated during its token sale. In a response tweet,
Our weekly roundup of news from East Asia curates the industry’s most important developments. Blowing up a Singaporean crypto hedge fund worth an estimated $10 billion at its peak was, by all means, a life-changing event for its co-founders Kyle Davies and Zhu Su. It appears that the trauma from the incident had been so
Arguing over the prudence and implications of issuing a central bank digital currency (CBDC) in the United States has seemingly become one of Washington’s favorite icebreakers. As Congress considers the question, it is critical that Americans clearly understand and soberly consider the immense power a CBDC could grant governments as well as the unacceptable risk
Ukrainian law enforcement has exposed a financial pyramid originating from Russia suspected of making millions of U.S. dollars. The scam convinced victims to send fiat money and cryptocurrency by promising profitable investments in big companies around the world. Large Crypto Pyramid Scheme With Russian Roots Busted in Ukraine Officers from the Security Service of Ukraine
The Bank for International Settlements (BIS) has released a working paper examining “crypto carry” — the differences between Bitcoin (BTC) and Ether (ETH) spot and futures prices — and its effect on crypto investment markets. The complex paper sheds light on the behavior of crypto investors, particularly smaller investors, in relation to boom and bust
A bitter dispute between Paxful’s co-founders Artur Schaback and Mohamad (Ray) Youssef in Delaware’s courts may have been the real reason behind the Bitcoin marketplace’s sudden closure on April 4. Schaback and Youssef, who started Paxful in 2015 with a shared passion for Bitcoin (BTC), are now litigating the company’s control with several accusations against each