Former presidential candidate, Hillary Clinton, has said that cryptocurrencies are “very interesting and exotic,” but they have the potential to undermine the U.S. Dollar. “What looks like a very interesting and exotic effort…has the potential for undermining currencies, for undermining the role of the dollars as reserve currencies, for destabilizing nations,” Clinton said at Bloomberg’s New Economy Forum. She added…
Meme-cryptocurrency Shiba Inu (SHIB) has lost more than 50% of its market valuation in three weeks since its all-time highs in late October. SHIB price dropped to as low as $0.00004251 on Nov. 19 after correcting by almost 55% from its all-time high of $0.00008854. Its price recovered a small portion of its losses on Friday, but the move looked…
A South African startup, NFTfi, is reported to have recently raised $5 million which the company intends to use for boosting its business of collateralizing non-fungible tokens (NFTs). Cryptocurrency Loan Marketplace According to a Techcrunch report, NFTfi’s $5 million capital raise was led by U.S. actor Ashton Kutcher’s Sound Ventures. The other investors that participated in the funding round include…
The United States’ Internal Revenue Service (IRS) has published a report that details the degree to which cryptocurrencies feature in criminal investigations. According to the report, 93% of all seizures carried out by the Criminal Investigations team (CI) involve cryptocurrencies. In total, $3.5 billion worth of cryptocurrencies has been seized by the CI team. As part of the CI’s ongoing…
Changpeng “CZ” Zhao, the founder and CEO of crypto exchange Binance, expects that the company’s American spin-off will soon announce a “couple hundred million” dollars in funding. “I think that’ll come in about a month or two,” Zhao said at the Bloomberg New Economy Forum in Singapore on Friday. With over $1.2 billion traded in the last 24 hours, Binance.US…
Kucoin Labs, the investigative and investment arm of Kucoin, a cryptocurrency exchange, has launched a $100 million fund to incubate early metaverse related projects. These include blockchain gaming initiatives, NFT platforms, and decentralized platforms, among others. The support will also include direct involvement with the projects selected, including counseling about branding and marketing. Kucoin Invests in Metaverse Kucoin,…
Central bank digital currencies (CBDC) like Russia’s digital ruble do not pose any threat to United States sanctions, according to U.S. Deputy Treasury Secretary Wally Adeyemo. In a CNBC interview on Wednesday, Adeyemo argued that the U.S. dollar “will remain the dominant currency in the world” despite the increasing popularity of cryptocurrencies. Adeyemo pointed out that digital assets provide an…
Today, Binance announced the integration of the Arbitrum One core network and opened Ether (ETH) deposits on the Arbitrum One Layer 2. Arbitrum is a third-generation layer-2 optimistic rollup protocol that runs on an off-chain Ethereum contract and lowers costs and speeds up transactions than on the Ethereum mainnet. The announcement notes that Binance users can now deposit any ERC-20…
Phil Spencer, executive vice president of gaming at Microsoft and the individual responsible for the Xbox program, has addressed the NFT gaming phenomenon trending recently. To Spencer, some of the platforms that leverage the use of NFTs feel more exploitive than entertaining. Some of the biggest developers and publishers in the gaming industry have already signaled their interest in introducing…
Bitcoin (BTC) is demanding a “slightly bearish” rethink on price action as old support levels give way overnight. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analysts sounds alarm over open intere Data from Cointelegraph Markets Pro and TradingView showed a low of $55,640 on Bitstamp on Nov. 19. Capitalizing on its lowest levels in over a month, Bitcoin has failed…
