Thu, December 26

Senior Analyst Predicts Catastrophic Decline for BTC and Crypto Market

Well-known Bloomberg analyst Mike McGlone is skeptical about Bitcoin’s recent price movement. McGlone issued his June Crypto Outlook report, which predicts a catastrophic decline for the flagship cryptocurrency and the whole crypto market in the next months, lending more support to his prediction. The senior macro analyst at Bloomberg Intelligence

June 3, 2023 1 min read

Tron’s TRX Token Now Live on Ethereum Blockchain, Price Surges 12%

On Friday, Justin Sun announced on Twitter that TRON’s TRX cryptocurrency is now live on the Ethereum blockchain. This was possible through the BitTorrent bridge. TRON’s TRX has gained about 12% in the previous 24 hours, and is now trading at $0.08522. With the BitTorrent Bridge in place. Assets might

June 3, 2023 1 min read

Marathon Digital Witnesses 77% Surge in BTC Mined in May

With the aid of its own software, Bitcoin miner Marathon Digital Holdings (MARA) mined 1,245 bitcoin in May, an increase of 77% over the previous month. According to the announcement, the miner has boosted its operating processing power by 9%, to 15.2 exahash/second (EH/S). CEO Fred Thiel stated: “The increased

June 3, 2023 1 min read

U.S Republicans File Legislative Draft To Classify Crypto as Commodities

Senior Republicans in the United States House of Representatives have filed a new legislative draft. It seeks to reclassify digital tokens from securities to commodities. This is a major attempt to solve the regulatory difficulties surrounding digital assets. The proposal was made by the leaders of the House Financial Services

June 3, 2023 2 mins read

U.S Unemployment Rate Surges to 3.7% in May as per Labor Statistics

The unemployment rate in the United States rose to 3.7% in May, according to the latest figures from the Bureau of Labor Statistics (BLS). In addition, there were an additional 339,000 nonfarm payroll employment created for the economy last month. The increase this month is a 0.3% growth, bringing the

June 3, 2023 1 min read

CFTC Proposes Regulations To Counter Negative Impact of Crypto and AI

The Commodity Futures Trading Commission (CFTC) has proposed new regulations for risk management to account for the potential impact of “evolving technologies” like cryptocurrency and AI. Commissioner Goldsmith Romero stated on Thursday that as a result of the emergence of distributed ledger networks, various sectors have started adopting or exploring

June 2, 2023 2 mins read

Bitcoin Mining Firm CleanSpark Buys 12,500 Mining Gear Worth $40.5M

CleanSpark, a Bitcoin mining company, has invested $40.5 million in 12,500 new ASICs to increase its fleet size. The mining company’s overall hash rate is expected to increase to more than 16 EH/s as a result of the new hardware. Moreover, CleanSpark said on Thursday that the cost per terahash

June 2, 2023 1 min read

Silvergate Bank To Submit Self-liquidation Plan Shortly Post Fed Consent

Silvergate Bank, renowned for its crypto-friendly attitude, has agreed to submit a self-liquidation plan with California banking authorities within 10 days, marking a major breakthrough for the cryptocurrency sector. In light of the Federal Reserve Board’s consent decree against Silvergate Capital Corporation and Silvergate Bank, released on March 8, 2023.

June 2, 2023 1 min read

OpenAI CTO’s Twitter Account Hacked To Promote Crypto Scam

On June 2, Twitter was inundated with user complaints about a “scam” crypto airdrop that seemed to have been promoted via the account of Mira Murati, CTO of artificial intelligence business OpenAI. Murati’s account seemed to tweet a phishing link advertising an airdrop of an ERC-20 token, which was shown

June 2, 2023 1 min read

UAE Central Bank Issues New AML Guidelines for Crypto Sector

The UAE Central Bank has updated its regulations for financial institutions. To follow in order to prevent money laundering and the funding of terrorism in connection with digital currencies and NFTs. New anti-money laundering and counter-terrorism funding criteria for financial institutions are being adopted. This is being done by central

June 1, 2023 1 min read
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