It was September 6, 2021, when the Central American nation of El Salvador decided to go ahead and purchase 200 Bitcoin (BTC), worth about $10.3 million at the time. The day was hailed as momentous in the history of the crypto market and was met with much fanfare. In fact, many proponents claimed that the purchase was just an inkling…
The crypto market has been in decline over the past six months with its valuation dropping from over $3 trillion in November 2021 to $1.23 trillion in May 2022. Fears over persistently higher inflation, the Federal Reserve’s hawkish response to it, and the ongoing conflict between Ukraine and Russia prompted investors to limit their exposure to riskier assets. Also, their…
On the second day of the Global Blockchain Business Council’s (GBBC) Blockchain Central Davos 2022, Cointelegraph’s editor-in-chief Kristina Lucrezia Cornèr moderated a panel discussion focusing on the current direction of the financial industry. Panelists included co-founder and CEO of Soramitsu Makoto Takemiya; Treasury executive at Oesterreichische Nationalbank Johannes Duong; and chief operating officer (COO) of theStellar Development Foundation Jason Chlipala.…
Miami mayor Francis Suarez believes that Bitcoin (BTC) should be seen from an innovation perspective rather than just as an investment asset. Suarez’s comments came during his discussion on “The Future of Crypto” on the third day of the ongoing World Economic Forum (WEF) 2022 at Davos. He said: “We live in a world where investors only look at things…
Jason Robins is the co-founder and CEO of DraftKings, the popular sports betting and fantasy sports site. He is also a longtime crypto fan who holds a variety of coins and NFTs—and he has some ideas about how to encourage more people to use crypto. Robins believes the current state of crypto is much like the early internet, which was…
In April, the United Kingdom’s Economic and Finance Ministry, also known as Her Majesty’s Treasury, announced its intention to put the United Kingdom at the forefront of technology by bringing stablecoins under the country’s payments regulation — a bold move that looks especially intriguing in contrast to the recent shock, caused by TerraUSD’s (UST) depegging. Later, in May, during the…
After hundreds of thousands of investors fell victim to the collapse of the Terra stablecoin and its sister token LUNA, South Korean financial authorities are planning to enhance monitoring of local crypto exchanges and introduce legal safeguards in the industry, The Korea Times reported Tuesday. “We need to make exchanges play their proper role, and toward that end, it is…
press release PRESS RELEASE. The leading fiat-crypto payment solutions provider, Alchemy Pay (ACH) and the web3 app, STEPN (GMT), have announced a new collaboration. STEPN’s GMT token is now supported for use on Alchemy Pay’s hybrid fiat-crypto payment system that enables it to be spent at over 2 million merchant partners, online and offline, in more than 70 countries worldwide.…
Bitcoin (BTC) fell on the May 24 Wall Street open as weakness in stocks saw sell-side pressure return. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Equities give crypto no respite Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it revisited its lowest levels of the past seven days. At the time of writing, BTC/USD traded at around $28,800 amid…
In a report published today titled “Decrypting financial stability risks in crypto-asset markets,” part of the ECB’s twice-yearly Financial Stability Review, the European regulator emphasized the danger posed by the increasing integration of crypto with traditional finance. “If the present trajectory of growth in the size and complexity of the crypto-asset ecosystem continues, and if financial institutions become increasingly involved…
