South African Currency Plunges to New Low Versus the Dollar a Day After the US Accused Country of Secretly Supplying Ammunition to Russia
The South African currency’s exchange rate versus the U.S. dollar plunged to a new all-time low of ZAR19.51:US$1 on May 12. The rand’s latest fall came a day after the U.S. ambassador to South Africa accused the country of secretly…
BTC miner Rhodium faces lawsuit over an alleged $26M in unpaid fees: Report
Crypto mining firm Riot Platforms seeks to terminate “certain hosting agreements” with Rhodium and requests exemption from any owed power credits to the counterparty.
10 Southeast Asian Nations Challenge Dollar Dominance With Push for Local Currencies
The leaders of 10 Southeast Asian nations, members of the Association of Southeast Asian Nations (ASEAN), have agreed to “encourage the use of local currencies for economic and financial transactions.” The group comprises Brunei…
US Government Faces ‘Significant Risk’ of Default in June, Congressional Budget Office Warns
The Congressional Budget Office (CBO) has stressed that “there is a significant risk that the Treasury will run out of funds at some point in the first two weeks of June” if the debt ceiling is not raised or suspended. The CBO’s projection is in…
PEPE, DOGE, SHIB See Fierce Competition From New FETH Token
The meme coin space has long been dominated by the likes of DOGE, SHIB, and PEPE, but now a new entrant into the space has signaled a shift in the market. ETH Furbo (FETH) is an Ethereum-based token that gives PEPE reflections to all holders…
The Group of Seven (G7) countries are discussing ways to counter China’s “economic coercion” against other nations, U.S. Treasury Secretary Janet Yellen has shared. Noting that Canada, France, Germany, Italy, Japan, the U.K., and…
Ethereum Patch Set to Fix Transaction Finality Challenges After Second Bout Disrupts Network
On Friday, Ethereum’s Beacon chain encountered yet another bout of transaction finality challenges, reminiscent of the glitch experienced on May 11, 2023. For over an hour, the blockchain stopped the process of finalizing blocks. However…
Tether’s Market Cap Inches Towards All-Time High as Competitors Struggle With Redemptions
Despite several U.S. dollar-pegged digital tokens experiencing notable redemptions in recent months, the largest stablecoin by market valuation, tether, is on the verge of achieving its highest-ever market capitalization. With a current value of…
Dogecoin Traders Watch For A Breakout On Higher-Than-Average Volume
Dogecoin (DOGE) has been one of the most talked-about cryptocurrencies of 2021, thanks to the involvement of high-profile figures like Elon Musk and Mark Cuban. Its value skyrocketed earlier this year, but has since retreated. As investors and…
Quadriga CX Customers to Finally Receive Payout: Creditors to Get 13% per Dollar
EY, the global accounting and professional services organization, released a long-awaited update on Friday for the creditors of Quadriga CX. The Canadian cryptocurrency exchange, which had sought bankruptcy protection in 2019 with liabilities of…
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Crypto Biz: Ripple’s expensive battle, Bittrex bankruptcy and a new blockchain network
This week’s Crypto Biz explores Arbitrum’s latest proposal, Ripple’s two-year battle with the SEC and a large corporations’ coalition to build blockchain solutions for institutional investors.
Biggest Movers: SOL up 5%, as LINK Breaks Key Resistance Level on Saturday
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…
South Korea’s LG Electronics Files For NFT-Trading TV Patent
A recent report published on WIPO’s global database for intellectual property disclosed LG Electronics’ application to acquire an NFT trading patent for its Smart TV. Notably, the WIPO guide states that a filing application can only be…
Bakkt Streamlines Apex Crypto Platform By Removing 25 Tokens
In a recent development, the digital asset firm Bakkt delisted 25 tokens used in decentralized finance transactions from its trading platform, Apex Crypto. Bakkt acquired the platform in 2022 with 36 tokens, now 11 after the overhaul exercise…
Bitcoin, Ethereum Technical Analysis: BTC Rebounds From 2-Month Low, as Bulls Enter the Market
Bitcoin bounced back from a near two-month low on Saturday, as bulls moved in to buy the recent dip in price. Saturday’s move came as the cryptocurrency rebounded from a recent support point, after yesterday’s breakout. Ethereum was…
The 2024 Presidential Election Could Make Or Break Bitcoin In The U.S.
This is an opinion editorial by Robert Hall, a content creator and small business owner.The race for the 2024 U.S. presidential election is starting to kick into gear, featuring some of the same cast of characters from the last few elections. On…
Bitcoin Price Dip Could Be Linked To On-Chain Activity
Bitcoin (BTC) has experienced downward price pressure in May, with the token failing to surpass the $30,000 resistance mark. This development could be linked to on-chain activities that indicate an increase in the number of Bitcoins sold on…
PayPal share prices are plunging and currently down 80% from 2021 peaks; the largest draw down ever, market data on May 12 shows. PYPL closed the week at $61.69, down 3% from Thursday, March 11. PayPal Shares Crumbling Analysts observe that the…
Litecoin (LTC) Records Spike In Active Addresses Following Launch of LTC-20: Santiment
Popular Bitcoin hard fork and one of the earliest cryptocurrencies, Litecoin (LTC), have recorded some interesting network activity in recent times. According to data from the on-chain analytics platform, Santiment, the number of daily active…
Former Executive Backs Up Lawsuit Against FTX Celebrity Promoters
A former FTX regulatory officer, Daniel Friedberg, has come forward to back the lawsuit against FTX celebrity promoters, adding weight to the allegations leveled against the cryptocurrency exchange. Due to his knowledge of the company’s…
Crypto Analysts Predict XRP Price Rally Against BTC
Market analysts are watching Ripple’s XRP for a potential price surge against the world’s leading digital currency, Bitcoin. XRP, known for its lightning-fast transaction speed and secure blockchain technology, has recently experienced…
OKX Announces New Platform And Partnerships; OKB Shows No Significant Movement
OKX Wallet has announced the launch of its new platform, Cryptopedia, and its partnership with protocols, Radiant and Marinade. This announcement would come following wide discussions about the waning influence of Binance, the world’s largest…
Former Paxful CEO Says He Cannot ‘Vouch for Anything Happening There Now’ — Platform Tells Users It Is Back Online
The former CEO of Paxful, Ray Youssef, has told users of the peer-to-peer bitcoin marketplace that he is no longer in control and therefore cannot vouch for “anything that is happening there now.” Youssef also told a user who claimed to…
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