The French Senate’s Committee on Economic Affairs recently approved an amendment to pending legislation allowing registered cryptocurrency companies to hire social media influencers for advertising and promotional purposes. According to a translation of the amendment provided by Bing, the new wording would allow companies that are registered with France’s Autorité des Marchés Financiers (AMF) to hire influencers for their products:…
The Bitcoin (BTC) price has successfully defended the $28,000 support on May 2, but has yet to prove the strength needed to reclaim the $29,200 level from April 30. $30K becomes crucial for Bitcoin bulls Some analysts will pin the recent downtrend to the expectation of an interest rate increase by the U.S. Federal Reserve (Fed) on May 3, but…
The Federal Reserve decided to raise its benchmark interest rate by 25 basis points on Wednesday. But it was the U.S. central bank’s statement on a possible path forward that had markets waiting with bated breath. To cool an overheated economy and tame soaring prices, the Fed has now delivered a steady barrage of 10 consecutive interest rate hikes since…
In this week’s newsletter, read about Sotheby’s auction house launching a secondary nonfungible token (NFT) marketplace. Find out about the popular marketplace Blur introducing an NFT lending protocol, and learn how a neobank has introduced soulbound NFTs for Know Your Customer (KYC) information. In other news, sellers are dominating the NFT market, and Meta is offsetting losses in its metaverse…
The U.S. Federal Reserve, in conjunction with the Federal Open Market Committee (FOMC), announced on Wednesday that the central bank would raise the federal funds rate by 25 basis points (bps), as was widely expected by the market. This marks the tenth consecutive occasion in which the Fed has raised interest rates since the initial 25bps increase in March 2022.…
Securities token platform INX has launched a wallet with compliance features for institutions, according to a May 3 announcement. The new wallet was created in partnership with wallet infrastructure provider BitGo and uses multi-party computation (MPC) technology. Exciting announcement! INX now collaborates with @BitGo to enable institutional #investors to fully and confidently participate in the #security #tokens market and the…
Alex Mashinsky, co-founder and former CEO of bankrupt crypto lending platform Celsius Network, has filed a response to New York Attorney General Letitia James’ suit against him. According to the document, the suit has shortcomings in presenting the facts in the case and its legal argument and should be dismissed. James claimed in her suit on behalf of the people…
As of May 3, 2023, the Bitcoin blockchain has witnessed a staggering 3.35 million Ordinal inscriptions, and a new experimental token standard known as “Bitcoin Request for Comment,” or BRC20, has garnered substantial attention in the past week. With 10,487 BRC20 tokens built using Ordinals and a swelling market capitalization exceeding $95 million, this new development has the crypto world…
Lawmakers from both sides of the aisle in the United States House of Representatives have backed a bill prohibiting members of Congress and their spouses and dependents from trading or owning certain financial instruments — which could extend to investments in digital assets. In a May 2 announcement, Democratic Representatives Alexandria Ocasio-Cortez (AOC) and Raja Krishnamoorthi, as well as Republican…
Sui’s mainnet went live on Wednesday without a hitch, catapulting the layer-1 blockchain’s SUI token into the top 100 largest cryptocurrencies by market cap. Yet, some traders are undoubtedly seeing red as SUI slides on its first day. Since SUI began trading this morning on crypto exchanges like Binance, OKX, KuCoin, and Bybit, the coin has fallen roughly 37% to…
