This week, markets were at the mercy of macroeconomic factors as some at the Fed have indicated another rate hike is due next month. Crypto was also subjected to intense scrutiny by regulators in both the U.S. and EU. Bitcoin and Ethereum led the downturn, with similar seven-day losses of over 10% impacting many leading cryptocurrencies. The U.S. Securities and…
There has been a lot of commentary concerning the U.S. raising its debt limit, as Treasury secretary Janet Yellen said last month that a U.S. default would be “devastating,” and European Central Bank president Christine Lagarde warned it would be a “major disaster” if the U.S. defaulted on its obligations. It now appears that Republican politicians are willing to raise…
The Reserve Bank of Zimbabwe is set to introduce a gold-backed digital currency to serve as a legal tender in the country. The move is a government initiative to stabilize the local currency from its depreciation against the United States dollar. According to a report from local media Sunday Mail, the move will allow small amounts of Zimbabwe dollars to…
The new unit, Google DeepMind, was formed by merging the Brain team from Google Research and DeepMind, a London-based AI company Google purchased in 2014. Source: https://cointelegraph.com/public/index.php/news/google-deepmind-restructuring-aims-to-deliver-next-gen-ai-breakthroughs
The total value locked in decentralized finance (defi) has descended below the $50 billion range after reaching a 2023 high of $53.63 billion on April 14. This shift has been felt across the board with the top 18 defi protocols recording losses during the past seven days, and the largest defi protocol by TVL size, Lido, losing 8.25% over the…
In the midst of a turbulent week for the crypto market, non-fungible token (NFT) sales have shown resilience, experiencing a surge of 7.74% in weekly sales, totaling $181.82 million. Data also reveals that there has been an increase of 41% in NFT buyers over the course of the week, surpassing the number of buyers recorded in the previous week. Despite…
Bitcoin proponents eyeing fiat failures are in no shortage of news on the topic as of late, as multiple officials, economists, authors, and analysts from around the world have been weighing in on “de-dollarization” in a prolific fashion. Author and libertarian Jeffrey Tucker said recently: “The dollar’s just not going to be king,” and Russia’s foreign minister says a flight…
Civil servants including public service personnel, public institution personnel and personnel of state-owned units at all levels in the city will be compensated… Source: https://cointelegraph.com/public/index.php/news/chinese-city-public-servants-to-receive-digital-rmb-salaries-from-may
Bitcoin (BTC) sought to snatch back lost ground on April 23 as ten-day lows remained in place. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $26,600 becomes popular BTC price target Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it rose to circle $27,700 at the time of writing. Up around 2.5% from the lows set the day prior,…
Officials have revealed that Ukraine intends to implement the crypto market rules approved by the European Parliament. While the government is already moving in that direction, the tax service has issued a clarification regarding the taxation of income resulting from cryptocurrency transactions. Ukraine Set to Incorporate EU Crypto Regulations Into National Law A regional leader in crypto adoption, Ukraine now…
