Meme coins moved lower on Jan. 19, as cryptocurrency markets plunged following recent highs. Shiba inu, which rose to a nine-week high on Wednesday, fell by nearly 10% today. Markets have been largely overbought in the past few days, with bears seemingly reentering. Dogecoin was also in the red today. Shiba Inu (SHIB) Shiba inu (SHIB), which was one of…
Compass Mining, a reseller of and hosting service for Bitcoin mining machines, is being sued by its customers to the tune of $2 million. In a filing to a Florida court on January 17, the customers accused Compass of fraud, breach of contract, and negligence after the company ended its partnership with BitRiver—officially a Switzerland-based business, though most of its…
Bitcoin (BTC) price has held above $20,700 for 4 days, fueling bulls’ hope for another leg up to $23,000 or even $25,000. Behind the optimistic move was a decline in inflationary pressure, confirmed by the December 2022 wholesale prices for goods on Jan. 18. The United States producer price index, which measures final demand prices across hundreds of categories also…
According to a Jan. 19 announcement by Binance, the cryptocurrency exchange has tightened its rules for nonfungible tokens, or NFT, listings. Starting Feb. 02, 2023, all NFTs listed on Binance before Oct. 2, 2022, and have an average daily trading volume lower than $1,000 between Nov. 1, 2022, and Jan. 31, 2023, will be delisted. In addition, after Jan. 21, 2023,…
In his latest blog post released on Jan. 19, Arthur Hayes, the former CEO of BitMEX exchange predicted a “global financial meltdown” thanks to future United States economic woes. Hayes: Crypto will “get smoked” in Fed pivot Bitcoin’s current rally should likely not be taken as the start of a new bull run. That is the opinion of Arthur Hayes,…
After a 48-year relationship solely with the U.S. dollar, Saudi Arabia’s Finance Minister, Mohammed Al-Jadaan, said the kingdom is open to trading in currencies other than the U.S. dollar. The statements follow China’s president, Xi Jinping, urging the Gulf monarchs to accept yuan for oil, and Riyadh officials saying last March the country would consider accepting the Chinese currency. Saudi…
With a value pegged to another currency, stablecoins in theory maintain steady price levels — hence the name. However, as investors saw in the Terra (LUNA) and UST crashes in May 2022, even stablecoins are subject to diminishing value in times of volatility if underlying pegs are lost or drop in value themselves. As investors continue to search for reliable…
A hierarchical deterministic wallet generates public and private keys from a master key, allowing users to create a new wallet and retrieve all addresses and keys, given that they have access to the seed. On the contrary, non-deterministic wallets randomly generate wallet addresses and private keys, restricting users’ ability to recover addresses and keys if the wallet’s details are lost.…
When he’s not working on hastening humanity’s rush toward the Singularity by creating an artificial general intelligence (AGI), Ben Goertzel plays in a jazz-rock band called Jam Galaxy fronted by a robot named Desdemona. It’s one of his many side projects, which naturally led him to try and tokenize the music business by reaching out to members of Pearl Jam…
Decentralized exchange (DEX) aggregator 1inch Network is the latest cryptocurrency platform to move into the hardware wallet industry amid the rise of self-custody. On Jan. 19, 1inch officially introduced the 1inch Hardware Wallet, a proprietary hardware wallet developed by an independent team working within the 1inch Network. In order to provide maximum security, the 1inch Hardware Wallet is “fully air-gapped,”…
