Voyager Digital Provides Update on Reimbursement Plan for Creditors
Following Binance’s withdrawal from the Voyager Digital deal on April 25, the now-defunct crypto lender has recently informed creditors that they can expect to receive their initial cash and crypto distributions “within the next few…
US-Based Bitcoin Focused Startup Fedi Raises $17 Million in Series A Funding Round
Fedi, the U.S.-based fintech which is led by the Nigerian bitcoin advocate Obi Nwosu, said on May 3 that it recently raised $17 million in a Series A funding round. The company said it will use the funds to help it launch what it called the…
Texas House Advances Gold-Backed Digital Currency Bill
Texas has taken its first steps in order to approve a bill that would issue a 100% gold-backed digital currency. If enacted as law, the bill, which is being discussed by a Texas House committee, would create an electronic system for users to…
Saudi Arabia Joining BRICS Would Accelerate Chinese Yuan’s Use as Trading Currency, Says Professor
Professor Ashok Swain of Uppsala University’s Department of Peace and Conflict Research says Saudi Arabia joining the BRICS economic bloc “would accelerate the bilateral trading being conducted using the yuan as the trading currency. ” How Saudi
Fed Chair Warns of ‘Uncertain and Adverse’ Consequences of US Debt Default — ‘We’d Be in Uncharted Territory’
Federal Reserve Chairman Jerome Powell has warned of “highly uncertain and adverse” economic consequences if the U.S. defaults on its debt obligations. “No one should assume that the Fed can protect the economy from the potential short…
Crypto Miners Pay Kazakhstan $7 Million in Taxes Amid Uncertain Future for Sector
The government of Kazakhstan has collected over $7 million in taxes this and last year from enterprises mining cryptocurrency in the country. The news comes amid growing regulatory pressure that is limiting the industry’s access to low-cost energy…
US Banking Crisis Looms as ‘Credit Tightening’ Mentions Reach Record Highs on Company Calls
Recent data reveals that while the banking industry in the U.S. is facing significant challenges, executives are mentioning “credit tightening” more frequently in earnings calls than during the 2008 financial crisis. Additionally…
Former SEC Enforcement Chief: Coinbase’s Arguments ‘a Surefire Loser’ and Possibly Criminal
According to John Reed Stark, crypto exchange Coinbase’s assertions that its business activities were endorsed by the U.S. Securities and Exchange Commission (SEC) when it approved its initial public offering are “a surefire…
Cryptoys Unveils Star Wars Digital Toys in New Line of Collectibles
The crypto platform Cryptoys, backed by Andreessen Horowitz, has announced the launch of Star Wars collectible digital toys featuring iconic characters Darth Vader, Luke Skywalker, and Princess Leia. Cryptoys stated on Thursday that 15 digital…
Meme Coin PEPE’s Market Cap Surpasses $1B with 896% Surge Over the Past Week
As per the latest statistics recorded before the weekend, the meme token PEPE has witnessed a massive surge in value, following its recent listing on the crypto exchange Binance. In just seven days, the crypto asset has skyrocketed by 896% against…
VC Darling Crypto Sui Makes Waves With Market Debut, Price Sinks 37% From All-Time High
A buzz has been generated around a new layer one (L1) proof-of-stake blockchain initiative named Sui, following the network’s mainnet debut on May 3, 2023. The native token SUI has been listed on various cryptocurrency exchanges, drawing…
Stronghold Digital Partners With Canaan Subsidiary to Boost Bitcoin Mining Capacity by 400 PH/s
Stronghold Digital, a leading Bitcoin mining firm, announced the company has entered into a two-year hosting agreement with Cantaloupe Digital LLC, a subsidiary of the bitcoin application-specific integrated circuit (ASIC) manufacturer, Canaan…
Exploring the Crypto World: Join the CoinEx Pizza Month for Multiple Giveaway Events
PRESS RELEASE. As Bitcoin becomes an increasingly popular payment option, we can now use BTC for quick ordering and online shopping in many countries/regions. You can even buy a car with BTC in some places. None of this would be possible without…
Nigeria Passes ‘National Blockchain Policy,’ Industry Player Says Central Bank Unlikely to Lift Crypto Ban
The Nigerian Federal government said on May 3 it had passed what it called the “national blockchain policy.” The Nigerian minister of communications and digital economy, Isa Pantami, said the new policy is a product of consultations…
Argentine Foreign Minister Says a Latin American Common Currency Would Relieve Argentina’s Stress on the Dollar Issue
Argentine Foreign Minister Santiago Cafiero referred to the advantages the issuance of a Latin American common currency would give Argentina. Cafiero stated that the existence of such a currency would relieve the stress that the country is…
Brazilian President Lula to Act as BRICS Liaison to Help Argentina, Discusses Credit Line in Brazilian Reals
Brazilian President Luiz Inacio Lula da Silva stated Brazil will serve as a facilitator to try and arrange BRICS bloc assistance for Argentina. Lula stated that the New Development Bank — the BRICS bank — could modify some of its rules to aid…
The European Central Bank (ECB) raised its key interest rates by 25 basis points, slowing the pace from previous increases. However, as inflation in the euro area remains persistently high, future rate hikes may still be expected with the regulator…
Iran Seeks BRICS Membership to Counter Western Hegemony, Promote Multipolar World, Says President Raisi
Iranian President Ebrahim Raisi has condemned the current unipolar world order, emphasizing that Iran plans to join the BRICS group to help create a multipolar world. “Iran wants to have constructive relations with all states on the basis of common…
El Salvador Eliminates All Taxes on Technology Innovations, AI, App Programming
El Salvador’s president, Nayib Bukele, has enacted a law that eliminates all taxes on technology innovations, software and app programming, AI, computer, and communications hardware manufacturing. The law is expected to boost the…
Chatgpt ‘Is the New Crypto,’ Meta Says Malware Actors Exploit AI Craze
A growing number of malware creators are now taking advantage of the significant interest in Chatgpt to lure victims, Facebook owner Meta has noticed. According to its head of information security, the AI-based chatbot is “the new crypto” for bad…
Biden Aides Explore Minting $1 Trillion Platinum Coin as Solution to Impending Debt Default
As the United States stares down the barrel of a potential debt default come June, a curious and intriguing solution has emerged: crafting a single $1 trillion platinum coin. This unusual tactic exploits a legal loophole that allows the Treasury…
Bitcoin Miners Breathe a Sigh of Relief as Difficulty Drops 1.45% After Five Consecutive Increases
Bitcoin’s network has been putting miners through the wringer lately, with five straight difficulty increases that had them on edge. However, on May 4, 2023, at block height 788,256, the network difficulty level took a dip, dropping by 1.45%…
Florida Takes a Stand Against CBDCs: Anti-CBDC Bill Receives Overwhelming Support in House and Senate
In the wake of Florida Governor Ron DeSantis’ remarks in Jacksonville on Tuesday, both the Florida House of Representatives and Senate have approved the state’s anti-central bank digital currency (CBDC) legislation, dubbed SB 7054. The…
US Banking Industry in Turmoil: A Comprehensive Look at the ‘Great Consolidation’ and Largest Bank Failures of 2023
2023 has been a rollercoaster ride for the U.S. banking industry. The collapse of three major banks has sent shockwaves through the financial world, with their combined assets surpassing the top 25 banks that crumbled in 2008. The following is a…
Russia Projected to Start Purchasing Chinese Yuan for Its Foreign Reserves as Soon as May
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…
IMF Chief Warns of More Weaknesses in US Banking Sector — Sees ‘Gradual’ Shift Away From US Dollar
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…
Play-to-Earn Is Dead, But ScapesMania’s Launch Brings a Vital Alternative In Light of the P2E Apocalypse
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…
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…
Ex-Coinbase Exec Balaji Srinivasan Closes Out $1 Million Bitcoin Bet
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…
Robert Kennedy Jr Warns of Mega Economic Crisis — Says ‘It’s Not Just the Banks’
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
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