Bitcoinews (2024)

04/05/2023

Quick Take The Fed’s 25bps hike was expected, with a hawkish tone: “Some additional policy firming may be warranted.” That takes the fed funds rate to 5.00-5.25% — the highest level since the GFC 2008. After Powell spoke, regional banks continued their spectacular collapse, and PacWest more than halved in extended trading when news came out about strategic options, including a sale....

https://bitcoinews.us/as-fed-hikes-rates-to-highest-since-2008-bitcoin-and-gold-shine-amid-banking-crisis/

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04/05/2023

What is CryptoSlate Alpha? A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more › Connected to Alpha Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below. Oops...you must lock a minimum of 20,000 ACS If you don't have enough, buy ACS on the following exchanges: Connect via Access Protocol…...

https://bitcoinews.us/coinbase-users-will-no-longer-be-able-to-borrow-fiat-against-bitcoin/

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04/05/2023

FTX’s bankruptcy case proceeded as the company moved to recover $3.9 billion from Genesis. Meanwhile, an earlier FTX sale became relevant with the launch of SUI token. FTX aims to recover $3.9B in Genesis funds In a May 3 filing, FTX said it intends to begin adversary proceedings against Genesis Global Capital and other associated companies. That filing called Genesis a “main feeder fund” for FTX and Alameda and said that Genesis received avoidable transfers from FTX’s debtors totaling $3.8 billion....

https://bitcoinews.us/ftx-seeks-to-claw-back-3-9b-from-genesis-undersold-sui-contracts-by-1000x/

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03/05/2023

The mining operations will be “carbon-free” according to the firms and the first expansion by Bitdeer into Asia. Bitdeer Technologies Group and Druk Holding & Investments have partnered to develop a 100% carbon-free digital asset mining operation in the Kingdom of Bhutan. According to a press release sent to Bitcoin Magazine, the partnership aims to help accelerate Bhutan's digital transformation and economic diversification, while expanding Bitdeer's global footprint....

https://bitcoinews.us/bitdeer-partners-with-druk-holding-investments-for-bitcoin-mining-operation-in-kingdom-of-bhutan/

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03/05/2023

What is CryptoSlate Alpha? A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more › Connected to Alpha Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below. Oops...you must lock a minimum of 20,000 ACS If you don't have enough, buy ACS on the following exchanges: Connect via Access Protocol…...

https://bitcoinews.us/texas-regulators-target-crypto-tokens-capitalizing-on-elon-musk-truthgpt/

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03/05/2023

Former OpenSea former product manager Nate Chastain has been convicted of insider trading, Reuters said on May 3. Chastain purchased non-fungible tokens (NFT) that he chose to feature on the OpenSea marketplace and sold those assets a short time later. This allowed him to gain $50,000 in illegal products, according to the report. More details to follow… The post Former OpenSea executive Nate Chastain convicted in insider trading case appeared first on CryptoSlate. Source link

https://bitcoinews.us/former-opensea-executive-nate-chastain-convicted-in-insider-trading-case/

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03/05/2023

Presidential hopeful Robert F. Kennedy Jr. on May 3 condemned a 30% crypto mining tax proposed by the Biden administration and responded to concerns around crypto. Kennedy says crypto regulation is a power grab Kennedy said in a thread on Twitter: “Cryptocurrencies, led by Bitcoin, along with other crypto technologies are a major innovation engine … Biden’s proposed 30% tax on cryptocurrency mining is a bad idea.”...

https://bitcoinews.us/robert-kennedy-jr-condemns-bidens-proposed-30-bitcoin-mining-tax/

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03/05/2023

MoonPay is now offering its multi-wallet management solution via the app store in countries across the globe. MoonPay, a cryptocurrency infrastructure company, has launched its app in over 130 countries, offering more than 5 million claimed users a streamlined multi-wallet management solution. The app, which had a soft launch in March to 15,000 early access users, is now available to MoonPay users on the Apple App Store and Google Play Store....

https://bitcoinews.us/moonpay-launches-app-in-more-than-130-countries/

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03/05/2023

What is CryptoSlate Alpha? A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more › Connected to Alpha Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below. Oops...you must lock a minimum of 20,000 ACS If you don't have enough, buy ACS on the following exchanges: Connect via Access Protocol…...

https://bitcoinews.us/will-another-rate-hike-be-a-massive-mistake-by-the-fed/

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03/05/2023

The company, now having raised $21.21 million, aims to pre-launch the alpha version of its federated operating system later in May. Fedi, Inc., a U.S.-based developer of community-empowering financial and data technology utilizing Fedimints on Bitcoin, has raised $17 million in a Series A round of financing. Fedi is set to pre-launch an alpha version of its federated operating system aimed at the builder community later this month....

https://bitcoinews.us/fedi-raises-17-million-in-fundraising-round-led-by-ego-death-capital/

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03/05/2023

Quick Take The Federal Open Market Committee (FOMC) has decided to raise rates by 25 basis points, taking the Fed funds rate to 5%- 5.25%. The Fed funds rate is now in line with CPI inflation which is also at 5% The FOMC said it seeks to achieve maximum employment and inflation at the rate of 2% over the longer run....

https://bitcoinews.us/fed-raises-rates-by-25bps-bitcoin-remains-essentially-flat/

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03/05/2023

After a public hearing, Buncombe County voted to approve a moratorium on bitcoin mining in order to craft zoning standards and regulations for special land use. As first covered in Bitcoin Magazine on April 6, Buncombe County, North Carolina proposed a one-year moratorium on bitcoin mining and held a public hearing on May 2. The text of the proposal stated that the…...

https://bitcoinews.us/north-carolina-county-enacts-one-year-ban-on-commercial-bitcoin-mining-but-not-without-pushback/

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03/05/2023

The Nigeria Federal Executive Council has approved the National Policy on Blockchain drafted by the Federal Ministry of Communications & Digital Economy, paving the way for the formal use of blockchain technology in the country. In a May 2 tweet, the special assistant to the President on digital and new media, Tolu Ogunlesi, said relevant agencies would be working to develop appropriate regulatory frameworks....

https://bitcoinews.us/nigerian-government-formally-approves-blockchain-use/

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03/05/2023

The Digital Asset Mining Energy excise tax would harm businesses and push innovation out of the United States. The President's new budget proposal for Fiscal Year 2024 includes the Digital Asset Mining Energy (DAME) excise tax, which would require bitcoin mining firms to pay 30% of the cost of electricity used for mining crypto assets. This tax aims to address what the White House claims are the economic and environmental costs of mining, citing local pollution, increased greenhouse gas emissions and higher energy prices....

https://bitcoinews.us/biden-administration-proposes-30-tax-on-energy-used-by-bitcoin-miners/

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03/05/2023

In May 2023, Kazakhstan’s share of the global Bitcoin mining hashrate stood at 4%, down from its peak of 18% in October 2021. Kazakhstan’s mining industry boomed between 2020 and 2021, driven by cheap electricity, hosting demand, access to cheap Chinese machines, relaxed regulations, and tax benefits, according to a Hashrate Index report. With the increase in hashrate share, Kazakhstan’s total Bitcoin mining load jumped to 1.5 GW in October 2021 from 200 MW a year and a half ago....

https://bitcoinews.us/kazakhstans-bitcoin-mining-industry-has-several-challenges-ahead/

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03/05/2023

Celsius co-founder and former CEO Alex Mashinksy said Celsius Earn’s accounts are not securities in his defense of the New York’s attorney general charges against him, according to a May 2 court filing. New York attorney general classifies Celsius Earn accounts as securities In its filing, New York’s attorney general Letitia James argued that Celsius Earn’s account constituted securities under the Martin Act....

https://bitcoinews.us/mashinsky-argues-celsius-earn-account-are-not-securities/

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03/05/2023

Amazon is set to launch its NFT marketplace by May 15, according to Web3 enthusiast and non-fungible collector Moritz. Amazon remains tight-lipped The world’s largest online retailer has been tight-lipped on the matter, making no official announcements on the rumors. Details of an Amazon NFT marketplace first surfaced from Blockworks back in January — stating the platform will focus on blockchain gaming and associated in-game NFT collectibles....

https://bitcoinews.us/amazon-nft-marketplace-to-launch-this-month/

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03/05/2023

Sui’s (SUI) mainnet is now live, and its native token is now trading across various exchanges like Binance, Bybit, and others. The mainnet went live at 12:00 UTC and began trading across major exchanges for less than $2. SUI is down more than 70%; trading volume surpasses $300M in 30 minutes The SUI token has declined by 72% in less than 30 minutes to $1.29 after it opened for trading, according to CoinMarketCap data....

https://bitcoinews.us/sui-mainnet-launches-trades-for-less-than-2/

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03/05/2023

Many experts have suggested dollarization as a way to save Argentina’s flailing economy, but it needs Bitcoin too. This is an opinion editorial by Carlos Cárdenas, an institutional account manager who has worked at legacy banks and cryptocurrency exchanges. Argentina is on the verge of financial collapse as record inflation and Argentine peso (ARS) devaluation hits the market. According to…...

https://bitcoinews.us/reviving-argentinas-economy-dollarization-and-bitcoin-as-catalysts-for-change/

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03/05/2023

The cryptocurrency market cap saw net inflows of $17.9 billion over the last 24 hours and currently stands at $1.18 trillion — up 1.5% from $1.16 trillion. During the reporting period, Bitcoin (BTC) and Ethereum’s (ETH) market cap grew 2% and 2% to $553.45 billion and $224.66 billion, respectively. The top 10 cryptocurrencies recorded a mixed performance, with Polygon leading the gainers, up 3%....

https://bitcoinews.us/bitcoin-boost-delivers-market-reprieve/

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03/05/2023

Bitcoin (BTC) miner Bitdeer has partnered with Bhutan’s state-owned investment company Druk Holding and Investments (DHI), to build carbon-free digital asset mining operations in the Kingdom of Bhutan. According to a May 3 statement, the partnership would be established with a closed-end fund valued at $500 million. Fundraising for this fund will begin by May ending, and it is expected to attract interest from the international community....

https://bitcoinews.us/bitdeer-expands-to-bhutan-expects-to-raise-500m/

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03/05/2023

Input Output (IO) CEO Charles Hoskinson said he would “rather be a crypto guy than a banker right now.” During an appearance on Fox Business, Hoskinson shared his thoughts on the current banking crisis and its impact on the cryptocurrency world — telling host Maria Bartiromo that crypto is “holding steady and stable” despite last year’s challenges. The same cannot be said of the banking sector....

https://bitcoinews.us/id-rather-be-a-crypto-guy-than-a-banker-right-now/

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03/05/2023

U.S. lawmaker Warren Davidson described Central Bank Digital Currencies (CBDCs) as a tool for coercion and control. In a May 2 Twitter thread, Davidson said CBDCs were the antithesis of sound money, warning people to beware of any protocol working with central banks to build digital currencies. Bitcoin is sound money The lawmaker pointed out that Bitcoin (BTC) helps to solve transaction restrictions imposed by traditional financial institutions....

https://bitcoinews.us/us-lawmaker-says-cbdcs-are-tools-for-coercion-and-control/

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03/05/2023

What is CryptoSlate Alpha? A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more › Connected to Alpha Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below. Oops...you must lock a minimum of 20,000 ACS If you don't have enough, buy ACS on the following exchanges: Connect via Access Protocol…...

https://bitcoinews.us/regional-banks-extend-losses-and-some-paused-due-to-volatility-bitcoin-up-2/

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03/05/2023

Crypto mining firm Marathon Digital Holdings on May 2 reported growth in some areas during its monthly review for April. Marathon produced 702 BTC (currently worth $20 million). That amount, measured in Bitcoin, represents a 134% year-over-year increase but a decrease from March, when Marathon mined a record 825 BTC. More hashrate added The company added that it began to power 10,600 Bitcoin mining devices at Applied Digital’s locations in North Dakota for the first time....

https://bitcoinews.us/marathon-mined-20m-bitcoin-in-april-and-increased-hash-rates-btc-holdings/

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02/05/2023

Crypto entrepreneur Balaji Srinivasan discussed on May 2 the ongoing banking crisis and announced that he had committed funds to his $1 million Bitcoin bet. Balaji says US government is printing trillions In a video posted to Twitter, Srinivasan said: “I just burned a million to tell you they’re printing trillions … I wanted to tell you in a provable way that … there’s something wrong in the economy and the state isn’t telling you about it....

https://bitcoinews.us/balaji-srinivasan-doubles-down-on-his-1m-bitcoin-bet-as-an-answer-to-the-banking-crisis/

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02/05/2023

New Brunswick’s main power company began to deny energy applications from crypto miners and other large-scale users in 2022, the CBC said on May 1. The cabinet order that endorsed the moratorium included concerns from the province’s main power company. N.B. Power expressed concerns about “additional load demand” and warned that crypto mining could put “significant pressure” on the energy supply....

https://bitcoinews.us/canadian-province-new-brunswick-has-denied-energy-to-crypto-miners-for-months/

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02/05/2023

Binance believes the core tenets of a regulatory framework for crypto should be consumer protection, market integrity, and financial stability. The exchange made the statement in its response to a recent consultation initiated by the U.K. HM Treasury regarding the regulation of crypto-assets. Binance said watchdogs need to take a balanced approach to regulating the crypto industry to ensure it can continue to grow and innovate in a competitive environment....

https://bitcoinews.us/binance-urges-balanced-regulatory-approach-for-crypto-to-ensure-innovation-growth-are-not-stifled/

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02/05/2023

The lawsuit alleges the company collected detailed face maps and fingerprints of customers without consent. Cryptocurrency exchange Coinbase Inc. is facing a class-action lawsuit for allegedly collecting face templates and fingerprints of its customers without their consent, in violation of Illinois' new biometric privacy law. The suit, which was filed in federal court in San Francisco, claims that Coinbase harvests facial data from IDs and selfies that customers upload....

https://bitcoinews.us/coinbase-sued-for-illegal-harvesting-of-biometric-data/

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02/05/2023

Law enforcement agencies around the world recently seized and shut down an illegal dark web marketplace called Monopoly Market as part of efforts to crack down on illicit cryptocurrency transactions, according to a May 2 Europol press release. Law enforcement seized $53.4 million in cash and crypto as part of the operation — dubbed SpecTor — and arrested 288 vendors that were primarily selling drugs and fi****ms through Monopoly Market and other similar websites....

https://bitcoinews.us/law-enforcement-agencies-seize-dark-web-market-amid-crackdown-on-illicit-crypto-transactions/

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