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Biggest Movers: SOL up 5%, as LINK Breaks Key Resistance Level on Saturday
13.5.2023
Solana rose by as much as 5% in today’s session, as cryptocurrencies began to recover from Friday’s red wave. The global market cap was up by nearly 2% at the time of writing. Chainlink also rose, moving back above a key resistance level. Solana (SOL) Solana (SOL) moved back above the $20.00 mark...
IMF Warns of ‘Very Serious Repercussions’ if US Defaults on Debt Obligations
13.5.2023
The International Monetary Fund (IMF) has warned of “very serious repercussions” to both the U.S. and the global economy if the U.S. defaults on its debt obligations, which could be as soon as June 1. “We are calling on all of the parties to come together, reach consensus, and resolve...
Former Lawmakers Join Coinbase’s New Global Advisory Council
12.5.2023
Former US lawmakers Patrick Toomey, R-Pa., Tim Ryan, D-Ohio., and Patrick Maloney, D-N.Y will join Coinbase’s newly launched Global Advisory Council to guide its leadership team.
“The creation of the Advisory Council is a significant step for Coinbase as we navigate an increasingly complex...
S&P Global Finds Ties Between Crypto and Macroeconomic Changes in Latest Report
11.5.2023
Cryptocurrency is still tied to the effects of macroeconomic changes despite drivers such as technology and market sentiment, according to S&P Global’s latest report.
The authors of that US-focused report looked into how monetary policy affects crypto, whether a perception of a possible recession...
PEPE Token Continues Downward Spiral, Registers 60% Drop From All-Time High
11.5.2023
The meme-based token pepe (PEPE) has experienced a 14.9% decline against the U.S. dollar over the last 24 hours, continuing its downward trend from the last five days. Thus far, PEPE has seen a 60% drop in value from its all-time high on May 5. Rival Meme Tokens Challenge PEPE’s Dominance...
Bitcoin Network Starts to Clear Congestion, Onchain Fees Drop by 90%
11.5.2023
On May 7, 2023, the Bitcoin network was plagued with an overwhelming 500,000 unconfirmed transactions, causing a major bottleneck in the system. However, the good news is that the congestion has been clearing, resulting in a significant reduction in onchain fees, which have now dropped below $5....
IMF Says Zimbabwe Gold-Backed Digital Currency a Potential Threat to Financial Stability
11.5.2023
The International Monetary Fund has urged Zimbabwean authorities to weigh the benefits versus risks of issuing a gold-backed digital currency. Instead of using gold-backed digital currency to limit the demand for the greenback, the global lender said monetary authorities should consider...
S&P Global attempts to assess crypto assets’ susceptibility to macroeconomics
10.5.2023
The ratings agency looked at five areas of interconnectedness between the crypto ecosystem and traditional finance; its lack of firm conclusions may be telling
Bittrex’s U.S., Maltese Arms Processed $425M in Withdrawals Since April 1, Attorney Says
10.5.2023
Bittrex filed for bankruptcy protection, but says no customer funds were re-used and that liabilities meet assets
Biggest Movers: TRON Nears Crypto Top 10, as MATIC Extends Declines
10.5.2023
Tron moved closer to being in the cryptocurrency top 10 on Wednesday, as the token rose for a second straight day. Prices climbed by nearly 2% in today’s session, despite the global market cap moving marginally lower. Polygon, which currently occupies the tenth position, fell to a five-month...
Grayscale Investments Files for 3 New Exchange Traded Funds
10.5.2023
On May 9, digital currency fund manager Grayscale Investments announced the establishment of the Grayscale Funds Trust and submitted registration filings for three exchange-traded funds with the U.S. Securities and Exchange Commission. Grayscale Introduces Grayscale Funds Trust and Files for 3 ETFs...
EY Launches Ethereum-Based Carbon Emission Tracking Platform
10.5.2023
The EY OpsChain ESG made the announcement at the firm’s Global Blockchain Summit in London. T
Philippines Law Enforcement Busts Crypto Scam Center, Over 1,000 Human Trafficking Victims Rescued
10.5.2023
Over 1,000 human trafficking victims were recently rescued from a “fraud factory” in Mabalacat, a town located nearly 90 kilometers northwest of Manila, Philippines law enforcement has said. Michelle Sabino from the Philippine National Police Anti-Cybercrime Group said trafficking...
Are Cryptocurrencies an Inflation Hedge? Theoretically Yes, Factually No Says S&P
10.5.2023
Some argue that crypto assets could be in demand in a high-interest rates/high inflation environment because they could serve as a store of value, however crypto's track record is too short to prove this, S&P said
Nigeria-China Currency Swap: Activist Lawyer Accuses IMF and World Bank of ‘Economic Sabotage’ to Promote US Dollar, Urges Nigeria to Join BRICS
10.5.2023
Nigerian human rights activist and lawyer, Femi Falana, has accused the International Monetary Fund (IMF) and the World Bank (WB) of sabotaging the currency swap arrangement between China and Nigeria. Falana said the Nigerian central bank and the two global financial institutions are helping...
Dave Ramsey Dismisses De-Dollarization Concerns — Says BRICS Currency, Chinese Yuan Can’t Take Down US Dollar
10.5.2023
Personal finance expert and best-selling author Dave Ramsey has dismissed de-dollarization concerns and the prospects of a BRICS currency, the Chinese yuan, or the Russian ruble displacing the U.S. dollar in international trade. “They don’t have the muscle to take down the dollar,”...
Worldcoin Launches World App to Bolster Decentralized Identity and Finance for Mass Adoption
9.5.2023
Worldcoin, the project supported by Openai CEO Sam Altman, has launched the World App to complement the release of World ID. The application aims to democratize decentralized identities and finance by utilizing World ID to enable users to sign into different websites, crypto applications, and share...
Digital Asset Will Start Global Blockchain Network With Deloitte, Goldman Sachs and Others
9.5.2023
Financial technology company Digital Asset has announced it will be launching a privacy-enabled interoperable blockchain network designed for institutional assets to provide a decentralized infrastructure, it announced Tuesday
Crypto Exchange Bittrex Enters Chapter 11 Bankruptcy Protection Following SEC Lawsuit
9.5.2023
Bittrex Inc., the U.S.-based cryptocurrency exchange, has filed for Chapter 11 bankruptcy protection in Delaware after being sued by the U.S. Securities and Exchange Commission for failing to register with the regulator. The exchange reportedly has over 100,000 creditors and liabilities ranging...
U.S. Crypto Exchange Bittrex Files for Bankruptcy in Delaware
8.5.2023
Crypto exchange Bittrex has filed for bankruptcy in the U.S. state of Delaware, months after announcing it would wind down operations in the country and weeks after being sued by the Securities and Exchange Commission