intermediate Bitcoin Cash is one of those cryptocurrencies that many people have heard of but don’t really know what it is. BCH is still often seen as nothing but Bitcoin’s sidegrade and only spoken of in the context of discussing Bitcoin forks. However, it has shown a lot of promise and is currently one of the 30 biggest cryptocurrencies in…
A Goldman Sachs executive who also serves as the chair of a Treasury advisory committee has warned that a U.S. default poses “real risk to the U.S. dollar.” She stressed: “Anything that moves us away from being viewed as the world’s reserve currency, of being the safest most liquid asset in the world, is bad for the American people, bad…
Death threats, viral rap videos and a stream of frog-themed insults. That’s the state of my social media profiles after hosting a Twitter Space on May 8 about PEPE, the new token based on the “Pepe” meme. Poignantly hosted during a monumental PEPE price crash, Cointelegraph set out in the May 8 Twitter Space to understand the token. Why had…
IRS wants $38 billion tax from Alameda According to recent flings posted by the claims agent of bankrupt cryptocurrency exchange FTX, the U.S. Internal Revenue Service (IRS), is claiming a total of $44 billion from the exchange’s bankruptcy and related firms, including $38 billion against its sister quantitative trading firm Alameda Research. In one single claim, the IRS assessed $20.4…
The U.S. Chamber of Commerce called out the Securities and Exchange Commission (SEC) on Thursday, slamming the financial watchdog for its regulatory approach toward the digital asset industry. It filed an amicus brief in support of Coinbase, which took the SEC to court last month. The exchange wants a court to force the SEC to respond to its so-called “petition…
The chair of the United States House of Representatives Financial Services Committee and six subcommittee chairs have sent a letter to U.S. Securities and Exchange Commission (SEC) secretary Vanessa Countryman voicing their concerns over the agency’s proposed advisory clients custody rule. They join a string of crypto industry figures in expressing their objections. Chair Patrick McHenry and his colleagues wrote…
The soon-to-be-former CEO will become Twitter’s executive chair and chief technology officer, overseeing product, software and system operations. Source: https://cointelegraph.com/app/public/index.php/news/elon-musk-announces-he-will-step-down-as-twitter-ceo
BlockGPT, a recently-launched Web3 company, announced the launch of its ‘chat to earn’ artificial intelligence (AI) service and related blockchain ecosystem on May 11. According to the company, BlockGPT aims to create a decentralized, token-governed chatbot on the blockchain with similar functionality to OpenAI’s ChatGPT. $BGPT is not the only token in #BlockGPT ecosystem. We’re excited to introduce $AIBGPT, a…
A United States judge has granted permission to bankrupt crypto lender BlockFi to return $297 million to customers with deposits held in its Wallet program, Reuters reported on May 11. The return of funds does not apply to users of interest-bearing accounts (BIA). According to bankruptcy Judge Michael Kaplan, funds in BIA accounts were used by BlockFi for its lending…
The Federal Reserve’s forthcoming instant payment service FedNow will be integrated with Metal Blockchain, according to a May 11 announcement from the Metal Blockchain team. The announcement said that the integration will allow Metal users to instantly convert funds to stablecoin and back again using FedNow’s “send/receive” function. Metal Blockchain’s listing in the FedNow Service Provider Showcase. Source: FedNow FedNow…
