Robert Kennedy Jr. to Accept BTC for Campaign Contributions, Says Bitcoin Is an ‘Exercise in Democracy’
Before taking the stage at the Bitcoin 2023 conference in Miami, U.S. presidential hopeful Robert F. Kennedy Jr. emphasized the democratic nature of bitcoin, calling it an “exercise in democracy.” Additionally, during his Florida…
Marathon and Brink Join Forces to Raise $1 Million for Bitcoin Core Developers
Bitcoin mining company Marathon Digital Holdings and Brink, a nonprofit striving to support open-source Bitcoin development, recently revealed their collaboration to generate up to $1 million in funding for Bitcoin Core developers. Marathon pledged…
FATF President Urges G7 to Lead in Shutting Down ‘Lawless Crypto Space’
It is necessary to put an “end to the lawless crypto space,” according to the head of the Financial Action Task Force (FATF). G7 nations must set an example in implementing global standards on combating money laundering, the executive insisted, as…
Microbt Unveils New Whatsminer Bitcoin Mining Rig With 320 TH/s, Setting New Standard for Hashpower
During the Bitcoin 2023 conference in Miami, bitcoin mining rig producer Microbt unveiled three new additions to their Whatsminer series. The latest Whatsminer models, namely the M50S++, M53S++, and M56S++, boast hashpower ranging from 150 terahash…
Biggest Movers: ATOM Falls on Friday, Hitting Key Support Level
Cosmos fell to a key price floor on Friday, as bearish sentiment returned to cryptocurrency markets. Volatility has been high most of the week, with today seeing the global market cap drop by 0.95% as of writing. Chainlink also slipped in…
Bitcoin Mining Gets Tougher as Network Difficulty Reaches New Peak
On May 18, 2023, at block height 790,272, Bitcoin’s difficulty reached an all-time high after rising 3.22% on Thursday. The network’s difficulty is now at an impressive 49.55 trillion, or 0.90% away from 50 trillion hashes, making it…
Bitcoin once again fell below the $27,000 level on Friday, ahead of a panel discussion which includes Fed Chair Jerome Powell. Powell will be holding a discussion with former Chair Ben Bernanke at a conference in Washington. Ethereum was marginally…
Banks Not Getting Anticipated Benefits From Rate Hikes, ECB Executive Admits
Eurozone banks are profitable but the benefits from higher interest rates may be smaller than expected, according to the deputy head of the single currency area’s monetary authority. The official noted that while most of the tightening has been…
Bitpay Ceases Prepaid Mastercard Program, Promises Enhanced Card Service in the Future
Cryptocurrency proponents in the United States are facing increasing challenges when it comes to utilizing digital assets for expenditures. Several crypto companies have encountered difficulties in securing banking partners. This week, Bitpay, a…
Russia and Iran Phasing Out US Dollar in Bilateral Trade Settlements
The governments of Russia and Iran are starting to phase out the usage of the U.S. dollar to conduct bilateral trade settlements. Russian Deputy Prime Minister Alexander Novak stated that 80% of Russia-Iran trade transactions are settled using…
Digital Ruble Law Likely to Be Passed in June According to Russian Official
The digital ruble law project, which was already discussed and approved in its first reading, could be passed in June, according to Anatoly Aksakov, chairman of the Duma’s Financial Markets Committee. The Bank of Russia is currently waiting for the…
Binance Halts Deposits and Possibly Withdrawals for Aussie Users After Being Cut Off by Australian Payment Service Provider
Binance Australia said on May 18 that it is “unable to facilitate PayID AUD deposits for Binance users” due to a third-party payment service provider’s decision to discontinue support for the crypto exchange. Binance Australia…
Hong Kong Launches Digital Currency Pilot With 16 Firms Including HSBC, Bank of China, Alipay
The Hong Kong Monetary Authority (HKMA) has announced the commencement of its e-HKD pilot which “will take deep dives into potential use cases in six categories.” The pilot paves the way for “the possible implementation of a retail central bank…
Venezuela’s President Declares Inevitable Shift Away From US Dollar in De-Dollarization Push
Venezuelan President Nicolas Maduro has announced that Venezuela will shift away from using U.S. dollars in trade, emphasizing that the de-dollarization process is “inevitable.” He described: “This is the path of Venezuela and the path…
Rate Hikes Affecting Housing Markets in Eurozone, United States, ECB Study Shows
Interest rate hikes in the euro area are already causing a decline in housing investment, the zone’s central bank revealed in a study. While smaller than in the United States, the impact of the monetary policy tightening on the Old Continent is…
Litecoin Network Surges With Activity as Ordinal Inscriptions Drive Transaction Volume
Based on recent data, the Litecoin (LTC) network has seen a considerable surge in activity due to an increase in Ordinal inscription minting happening on its blockchain. The cryptocurrency’s value has risen by more than 13% in the past week…
FTX Executives Sue Co-Founders Amidst Failed FTX Stocks Project
Court documents filed on May 17, 2023, reveal that current executives overseeing FTX and its subsidiary, Alameda Research, have initiated a lawsuit against Sam Bankman-Fried, the former CEO of FTX, Nishad Singh, FTX’s former director of…
US Bitcoin Corp Secures Hosting Agreements for 150,000 Bitcoin Miners
On Thursday, the bitcoin mining company U.S. Bitcoin Corp revealed the firm has successfully secured hosting agreements with five different companies to install 150,000 application-specific integrated circuit (ASIC) bitcoin miners. The bitcoin…
Unidef Introduces Decemount to Expedite Global Shift to Decentralization
PRESS RELEASE. Dubai, UAE — May 18, 2023 – Today, Unidef (unidef.org), a global network of organizations focused on hastening the global shift to a decentralized future, proudly unveils its latest initiative, Decemount. This ambitious project…
Biggest Movers: XRP Extends Bull Run, Jumping 5% on Thursday
Xrp rose for a fifth straight session on Thursday, as the token moved close to a two-week high. The rise comes as cryptocurrencies rebounded from recent losses, with the global market cap up 1.38% as of writing. Cardano also surged, hitting an…
Regulatory Battle: Grayscale Challenged by SEC’s Designation of Filecoin as Security
Grayscale Investments, the largest digital currency asset manager by assets under management, made an announcement on May 17 regarding a comment received from the U.S. Securities and Exchange Commission (SEC). According to the SEC, the crypto asset…
Bitcoin, Ethereum Technical Analysis: BTC Sees Strong Rebound, as Biden Holds Debt Ceiling Talks
Bitcoin rebounded on Thursday, as markets responded to news that U.S. President Joe Biden held positive talks regarding the debt ceiling. Biden reportedly met with Republican House Speaker Kevin McCarthy, in a bid to find an agreement. Ethereum…
Report: North Korea Affiliated Cybercriminals Stole $721 Milion Worth Crypto Assets From Japan
Between 2017 and 2022, hacking groups affiliated with North Korea are thought to have stolen crypto assets worth $721 million from Japan alone. According to the findings of a study by Elliptic, hackers were primarily focused on Japan and Vietnam…
Pakistan to Ban Online Services Related to Cryptocurrencies
Authorities in Pakistan intend to prohibit all internet-based crypto services despite significant digital-asset investments made by Pakistanis. The decision comes as government officials in Islamabad take a strong stance against the legalization of…
Brazilian President Lula Ends Fuel Price Peg to the US Dollar, Announces Wholesale Discounts
Brazilian President Luiz Inacio ‘Lula’ da Silva has announced that state oil company Petrobras will not be using US dollar-based international prices to set its internal fuel pricing structure. The “Brazilianization” of the…
Investors Seek Refuge in Cash as Recession Fears Mount, BOFA Survey Reveals
Investors, plagued by mounting pessimism, have sought refuge in cash, according to a recent survey conducted by Bank of America. The survey highlights a notable 5.6% increase in cash reserves during May, as apprehensive investors brace themselves…
Report: Well Known Crypto Firms Still Not Adhering to Basic Governance Standards
Many of the most well-known crypto firms are not adhering to basic governance standards, the findings of a Bloomberg survey have shown. Only 31 out of the 60 polled firms “currently procure a full financial audit or reserve attestations from…
EU Council Adopts New Rules for Europe’s Crypto Markets
The Council of the European Union has given its final approval to new regulations for crypto assets and markets in the EU. The decision completes a lengthy and complex legislative process for what’s considered to be the world’s first comprehensive…
BRICS to Strengthen Economic Cooperation — Sherpa Calls for Increased Trade in National Currencies
South Africa’s BRICS Sherpa says one of the priorities at the upcoming BRICS summit is “to strengthen economic cooperation.” He added: “We need a stable global financial architecture, a global financial arena. That is why we say that we need to…
146 Top Executives Urge Biden to Prevent US Default — Warns of ‘Disastrous Consequences’
Top executives from 146 major companies in the U.S. — including Morgan Stanley, Goldman Sachs, Nasdaq, and Pfizer — have urged President Joe Biden and congressional leaders to act swiftly to prevent the U.S. from defaulting on its debt, which could…
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