Satoshi Nakamoto left a large pair of shoes to fill after releasing the code for Bitcoin (BTC) to the world, helping the network get established, then vanishing without so much as a trace. Over the years, the crypto ecosystem has seen many developers and protocol creators rise in stature to become crypto messiahs for faithful holders who eventually have their…
El Salvador hosted central bankers and financial authorities from 44 countries for a financial inclusion event this week.All participating members were able to download their own Bitcoin wallets and make purchases with BTC. In July 1944, 44 countries met to determine the Bretton Woods financial system. Once again, 44 countries came together to learn a new system. On May 15,…
Fireblocks, a crypto custody service provider, is expanding its services with the launch of an institutional suite of Web3 services. This suite will allow customers to leverage liquidity from different exchanges, and mint NFTs. The service, which has already onboarded several names in the industry, also includes gaming asset management for blockchain games on Ethereum and other smart contracts-enabled blockchains.…
The past week in the decentralized finance (DeFi) ecosystem was dominated by Terra’s collapse and its aftermath on various ecosystems it was connected. Now BNB chain has come to the rescue of several stranded projects on Terra by offering financial and technical assistance. After its spiral collapse, Terra co-founder Do Kown proposed a revival plan and a hard fork to…
Investment bank Goldman Sachs has said that it’s unlikely that the drop in cryptocurrency prices will impact the U.S. economy. In a Thursday research note, the New York City-based multinational said that “the recent decline [in cryptocurrency prices] is very small relative to U.S. household net worth” and therefore unlikely to cause serious damage. The cryptocurrency market has tumbled massively…
This is an opinion editorial by Joakim Book, a Research Fellow at the American Institute for Economic Research, and writer on all things money and financial history. All (fiat) monies struggle with getting their users to hold the liabilities of their issuer. Put differently, only issuers with some degree of trust or credibility manage to “monetize” some part of their…
New York-headquartered crypto mining firm Bit Digital reported two of its hosting partners ceased operations to more than 4,800 rigs following power disruptions at different facilities. In a Thursday announcement, Bit Digital said a substation in Niagara Falls was damaged by “an explosion and subsequent fire,” necessitating its partner Blockfusion USA to take 2,515 Bitcoin (BTC) miners and 710 Ether…
On May 12, the total crypto market capitalization reached its lowest close in 10 months and the metric continues to test the $1.23 trillion support level. However, the following seven days were reasonably calm while Bitcoin (BTC) gained 3.4% and Ether (ETH) added a modest 1.5%. Presently, the aggregate crypto cap stands at $1.31 trillion. Total crypto market cap, USD…
Bitcoin’s (BTC) tight correlation with the legacy markets continues to be a drag, especially as the United States equity markets remain in a firm bear trend. The Dow Jones Industrial Average is on track for its eighth consecutive negative week and the S&P 500 is close to plunging into the bear market territory. Celsius (CEL) CEO Alex Mashinsky believes that…
Last week, as the crypto market tanked and Terra’s LUNA and UST tokens were in mid-freefall, a new term began circulating on Crypto Twitter: “Crypto Boy.” The phrase came courtesy of a new song of the same name from TikToker and musician Salem Ilese—and it quickly went viral. “I don’t care about your crypto, boy/Not even one bit-(coin)/CEO of being…
