Bitcoin (BTC) received a welcome boost at the Wall Street open on Jan. 31 as fresh research painted a gloomy picture for near-term price action. BTC/USD 1-month candle chart (Bitstamp). Source: TradingView Trader “not interested” in longs below $38,500 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing toward $38,000 on Monday, reversing a correction which set in immediately after…
As the world continues to watch El Salvador’s Bitcoin experiment, a senior official at the International Monetary Fund (IMF) has again warned that cryptocurrencies pose “acute risks” for the stability of the financial system. Using the term “cryptoization” to describe the process of existing established currencies being replaced by digital assets, Tobias Adrian, the IMF’s financial counselor, said that “capital…
Despite trading lower on Monday, bitcoin is up over 10% from the same point last week, with ETH also gaining within that period. In general, crypto markets were weaker to start the new week. Bitcoin Following some strong rallies over the weekend, BTC/USD gave back some of these gains on Monday, falling to an intraday low of $36,733.57. This comes…
In a now-deleted deleted profile, an anonymous Reddit user allegedly lost close to $500 thousand on Sunday after sending wrapped Ether (WETH) directly into a WETH wrapping smart contract. WETH came into existence as a way for Ether (ETH) to conform to the ERC-20 token standard so that it can be traded directly with altcoins minted on the Ethereum blockchain.…
UNICEF, a United Nations agency that provides humanitarian and developmental aid to children around the world, has said that the mainstreaming of digital currencies creates a need for new safeguards designed to protect children. “Unregulated cryptocurrencies pose a threat to the stability of financial systems, government revenues on which many child services depend,” the Prospects for Children 2022 report reads. …
A judge has decided to stop the deal the Argentinian Soccer Association (AFA) signed last week with Binance, one of the leading exchanges in the cryptocurrency world. María José Gigy Traynor dictated a prohibitory injunction ordering the cancellation of all deals announced or signed with Binance, due to exclusivity contracts the AFA still has with Socios.com. The contracts include the…
This month, the Board of Governors of the United States Federal Reserve System issued its widely anticipated report on the nation’s possible use and adoption of digital currencies for its financial system. The document is titled “Money and Payments: The U.S. Dollar in the Age of Digital Transformation,” and true to its name, the paper is transformative. Powers On… is…
Crypto wallet Phantom has announced a $109 million Series B funding round led by Paradigm, an investment firm focused on crypto- and Web3-related companies. The funding round brings the project’s valuation to a whopping $1.2 billion. “It’s amazing to see the expansive growth that has happened in just under a year since our beta launch,” said Brandon Millman, CEO of…
By Brian Armstrong, CEO and Co-Founder Commerce pioneer and respected open-source programmer, Lütke will bring his global experience and perspective to bear as Coinbase seeks to expand its international footprint and build new products I’m excited to share that Tobias “Tobi” Lütke, CEO and founder of Shopify, will join Coinbase’s Board of Directors*. Tobi brings a wide variety of skills…
NFTs, or nonfungible tokens, have created a wealth of opportunities over the last year. Data from market tracker DappRadar found that NFT sales reached $25 billion in 2021. Artwork NFTs in particular have seen impressive growth. Financial services firm FinancePR recently determined that 257 artists generated at least $1 million in the past 30 days from selling NFT artwork. It’s…
