Crypto

The past 24 hours have seen Bitcoin drop to a new two-month low before recovering by over $1000. This is in contrast to altcoins, which have seen gains in the same period. LDO is the top performer with a double-digit price surge. Inflation Rates Slow Down The US CPI numbers for April revealed that inflation

PacWest Bancorp, a California-based lender, experienced a 20% drop in its stock prices after reporting a significant loss of its deposits. The company stated in its quarterly report that its deposits decreased by 9.5% last week, mainly on May 4 and 5, due to heightened market and customer fears following the closure of First Republic

The Super Six tournament is a popular event on 1xBit, and it is gaining momentum as the second round winners have already claimed their prizes. However, there are still more prizes to be won from the 6 BTC prize pool, and the next prize draw is starting soon. To participate, you need to create an

Bybit, a popular crypto exchange, has officially announced its sponsorship of the Safehouse Racegraph Lamborghini team for Super Trofeo in Asia. This is another exciting move for Bybit as it continues to expand its presence in the world of finance. By sponsoring the Safehouse Racegraph team, Bybit will support the team’s quest for victory at

According to CryptoQuant, a crypto market analytics firm, Bitcoin is out of the depths of the bear market and the bull market appears to have returned. Despite corrections always being on the table, the Head of BD & Strategy, Benjamin Brannan, has received word from institutional clients who intend to invest in Bitcoin and crypto

Brian Armstrong, the CEO and co-founder of Coinbase, has accused the US Securities and Exchange Commission (SEC) of going on a lone crusade for regulatory clarity in the country. According to Armstrong, the stance of the SEC differs from that of Congress and other federal regulators, and he believes that SEC Chair Gary Gensler is

As the financial sector releases its quarterly earnings reports, updates on the state of crypto adoption across the industry are emerging. Despite the lingering effects of the crypto winter, firms that have adopted crypto are reaping benefits. For instance, MicroStrategy, which has integrated crypto in its operations, has seen positive results. Block’s Quarterly Results Block,

TrueUSD (TUSD), a prominent stablecoin provider, has revealed plans to expand its management services internationally, reflecting a growing trend in the industry. Since its inception in 2018, TUSD has been at the forefront of stablecoin innovation, prioritizing regulatory compliance, and client due diligence. With a diverse network of financial institutions and fiduciaries, TUSD has been

Over the weekend, Bitcoin’s price continued to plummet, dipping below $28,000 for the first time in a week. This decline in value follows a volatile week with a price surge on Friday night to almost $30,000. However, the bears came out and prevented further increases, causing Bitcoin to rapidly lose value. On Saturday, the asset

Coinbase Global, the popular cryptocurrency exchange, has reported losses for the fifth quarter in a row. Despite a recovery in crypto markets during the first quarter, customers and investors appear to have lost faith in the company. However, the company’s losses of $79 million were much lower than the $430 million it lost in the

Over the past week, the cryptocurrency market has remained relatively stable, with the total capitalization remaining unchanged. However, there was some slight volatility in between, which did not sustain. Bitcoin is currently trading at $29,000, which is the same as its value a week ago. The cryptocurrency fell to $27,500 in the middle of the

Kenya is set to impose a 3% tax on the transfer or exchange of cryptocurrencies to boost the country’s domestic revenues and narrow its fiscal deficit. The proposed tax is part of a newly-designed bill aimed at stabilizing the financial condition of the African nation. The bill also proposes a 15% levy affecting creators of

Coinbase, the US crypto giant, has been in a legal battle with the Securities and Exchange Commission (SEC) over the issue of regulation. The company asked the SEC in July 2022 whether it would allow the industry to be regulated using existing frameworks. However, the SEC refrained from offering specific public responses. The Latest Development

A French citizen, Thomas Clausi, has been sentenced to 18 months in prison for orchestrating a cryptocurrency scam in Morocco. The 21-year-old must also pay a $3.7 million fine to customs authorities and compensate his victims. Clausi’s trial began a few years ago when he purchased a Ferrari for $440,000 worth of Bitcoin from a

Pepe Coin (PEPE) has shown remarkable growth in the crypto sector, with its price surging by over 900% in the past seven days. The coin has continued to perform well with another 60% increase in the last 24 hours, and its market capitalization has skyrocketed to over $1 billion. This surge is isolated, as other

Alex Mashinsky, founder of Celsius Network, has filed a motion to dismiss the civil lawsuit against him by New York State Attorney General Letitia James. The complaint accuses Mashinsky of defrauding investors by concealing the deteriorating financial state of the lending platform, leading to the company’s bankruptcy. James’ lawsuit seeks to prevent Mashinsky from operating

A Democratic presidential candidate has spoken out against the anti-crypto sentiment growing within his party. Environmental lawyer, Robert Kennedy Jr., has blamed regulatory agencies for the failure of several banks in March. Kennedy has opposed the bailout approach used by financial agencies and criticized the Federal Deposit Insurance Corporation (FDIC) and Securities and Exchange Commission

Bitcoin’s price has been fluctuating between the 50-day moving average at $28,310 and the psychological resistance level of $30K. The direction of the upcoming rally heavily depends on whether Bitcoin breaks out of this range to the upside or downside. A breakout beyond the $30K region will significantly impact market sentiment, while a decline below

Symmetry has launched its user interface on the Solana blockchain, which represents a groundbreaking step towards decentralized finance (DeFi). The platform aims to transform the way users manage their portfolios through crypto indices and actively managed funds, providing a comprehensive solution for creating, managing, buying, and selling funds. Symmetry’s Infrastructure Layer Symmetry’s infrastructure layer is

Druk Holding & Investments, the investment arm of the Royal Government of Bhutan, has joined forces with Bitdeer Technologies Group, a Nasdaq-listed company, to launch a $500 million fund that will support bitcoin mining activities in Bhutan. The country has been secretly producing BTC since 2017 using its vast amount of hydropower, and the government

On Wednesday, the Federal Reserve raised its benchmark rate to between 5% and 5.25%, in line with market expectations. The announcement had little impact on the price of Bitcoin, which remained relatively stable at around $28,000 to $28,500. The CME FedWatch tool had predicted an 11.8% chance that the Federal Open Markets Committee (FOMC) would

Tenet, a new blockchain protocol, has emerged from stealth mode and launched its Testnet. The protocol is the first Layer-1 blockchain designed to support Liquid Staking Derivatives (LSDs) and was created by former executives from Ankr and Blockdaemon. Tenet is compatible with the Ethereum Virtual Machine (EVM) and allows users to restake their assets on

The Decarbonice project is set to transform the way we generate and consume energy, aiming to decentralize access to renewable energy and offer energy independence to households and businesses. The project’s native token, PNE, plays a crucial role in the ecosystem, offering holders the opportunity to earn passive rewards, additional token airdrops, and even a

On May 3, Europol announced the successful conclusion of Operation SpecTor, a multi-jurisdictional effort to bring down Monopoly Market, a dark web platform that emerged after previous ones were taken down. This operation involved cooperation between authorities in the United States, Austria, France, Germany, the Netherlands, Poland, Brazil, Switzerland, and the United Kingdom. The shutdown

Michael Saylor, the former CEO of MicroStrategy, has shared his opinion on the recent surge in Bitcoin adoption. According to Saylor, there are two main factors driving the widespread adoption of the digital currency. The first factor is the concern about inflation, which results in the loss of confidence in fiat currencies. Saylor believes that