Steve Hanke, professor of applied economics at Johns Hopkins University, has criticized bitcoin, stating it is not a currency. The economist, known for his vocal opinions about crypto and for the promotion of dollarization initiatives in Latam, blasted bitcoin, saying it has a “fundamental value of zero,” and that it is a “highly speculative asset.” Steve Hanke Criticizes Bitcoin’s Function…
The show Macro Markets, hosted by Marcel Pechman, which airs every Friday at 12 pm ET on the Cointelegraph Markets & Research YouTube channel, explains complex concepts in layman’s terms and focuses on the cause and effect of traditional financial events on day-to-day crypto activity. In today’s episode, crypto analyst Pechman discusses the fundamentals of money, including how to calculate…
Walt Disney Co. has cut its “next-generation storytelling and consumer experiences unit.” The team of around 50 was dedicated to developing metaverse strategies, per the Wall Street Journal. The team was responsible for using Disney’s vast library of intellectual property to tell interactive stories in new formats. This comes as part of company-wide layoffs that are expected to see around…
Bitcoin (BTC) attempted to rescue $27,000 support on March 28 as dust settled on United States regulatory action against largest exchange Binance. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Binance CEO dimisses “disappointing” complaint Data from Cointelegraph Markets Pro and TradingView showed BTC/USD repeatedly testing the $27,000 mark overnight. The pair had seen downward volatility the day prior as news…
“We have opened the chain,” said Chiliz CEO Alexandre Dreyfus. After launching its layer-1 blockchain last month, the sports-centric crypto project hopes now to attract new partners to its ecosystem. The Chiliz Chain 2.0 is a fork of the BNB Chain operating on a proof-of-stake authority (PoSA) consensus mechanism that supports shorter block time, lower fees, and less energy usage.…
President Nayib Bukele is promoting El Salvador as the “new land of the free,” as part of an invitation for foreigners to move to the Latam country. Bukele tweeted a poster in vintage American style that included several advantages that the country brings its citizen, including the adoption of bitcoin as legal tender. EL Salvador’s ‘New Land of the Free’…
Right before the exchange platform Binance and its CEO Changpeng Zhao have been accused of regulatory violations by the United States Commodity Futures Trading Commission (CFTC), almost a billion dollars in crypto reportedly left the platform’s wallets. According to the Thanefield Capital data research, a few hours before the Binance CFTC indictment, which occurred at 3 pm UTC on Monday,…
Coinbase issued an open call to developers to experiment with a variety of unconventional DeFi applications on its layer-2 network Base. Selected teams will receive a grant from the Base Ecosystem Fund and strategic assistance from the Coinbase team. Base is the crypto exchange’s Ethereum-centric scaling solution. Announced in February 2023, the layer-2 network draws from the Optimism tech stack,…
Soon after the United States Commodity Futures Trading Commission (CFTC) sued crypto exchange Binance and its CEO Changpeng ‘CZ’ Zhao over regulatory violations, the entrepreneur sought damage control measures while rejecting allegations of market manipulation. However, investors responded by pulling off over 3,400 Bitcoin (BTC) within 24 hours of the announcement anticipating market fluctuations. “Binance.com does not trade for profit…
Cross-chain liquidity protocol THORChain has paused its network due to new claims of a potential network vulnerability. THORChain took to Twitter on March 28 to announce that it has halted all trading amid reports on a potential vulnerability with a THORChain dependency that may affect the network. The decision was taken as a precautionary measure while the reports are verified,…
