The total fees paid for Ordinal Inscriptions topped 272 BTC, around $7.6 million on Tuesday, according to a Dune Analytics report. On Monday alone, over 372,000 Inscriptions were created on the Bitcoin network, with daily network fees hitting 23 BTC, around $656,000. I can’t believe my eyes BRC-20 demand leading to a 700% increase in fees AFTER what we’ve seen…
A $1 million Bitcoin (BTC) price bet has been closed out 97% under its target price, with its backer Balaji Srinivasan choosing instead to donate a total of $1.5 million to three different entities as a settlement. On May 2, Srinivasan, the former chief technology officer at Coinbase, said the bet had been “closed out by mutual agreement” 45 days…
Crypto exchange Coinbase’s stock price will continue to be “weighed down” until regulators establish the legal “rules of the road” in the United States, according to investment analysts from Citi. As per reports on May 1, the investment bank downgraded shares of the crypto exchange from “Buy” to “Neutral” and lowered its price target — citing “too many unknowns” as…
Highly-anticipated layer-1 blockchain Sui launches tomorrow, but how does it, and its native token SUI, actually work? The proof-of-stake (dPoS) blockchain, which uses a modified version of the Move programming language, has a cap of 10 billion tokens. The Sui Foundation says that a share of SUI’s total supply will be liquid at its Mainnet launch tomorrow. The remaining tokens…
Florida Governor Ron DeSantis took another swing at a U.S. digital dollar today even as he defended crypto as a whole, unveiling a series of state legislative proposals that would combat “woke politics.” “They don’t like crypto because they can’t control crypto,” he said in answer to a question posed at a Tuesday press conference. “They want to get rid…
Economist Peter Schiff has warned that the U.S. economy is facing stagflation and the situation is going to get worse. “Not only is the economy weakening, but inflation is strengthening,” he stressed, emphasizing: “You have the worst of both worlds.” U.S. Economy and Stagflation Economist and gold bug Peter Schiff warned about the U.S. economy facing a period of stagflation,…
Democratic presidential candidate Robert F. Kennedy Jr. came out swinging on behalf of the digital assets industry on Tuesday, criticizing what he called a “war on crypto” following earlier remarks he made opposing a U.S. central bank digital currency, or CBDC. Kennedy, who officially announced his 2024 presidential bid last month, said that the Federal Deposit Insurance Corporation (FDIC) and…
Coinbase, the San Francisco-based cryptocurrency exchange, recently announced the launch of a new service called Coinbase International Exchange. The new platform will enable institutional users outside of the United States to trade bitcoin and ethereum perpetual futures. The company stated in a tweet that the service will begin by offering perpetual futures settled in USDC with up to 5x leverage…
Ex-Coinbase CTO Balaji Srinivasan today said that he has now settled a high-profile Bitcoin bet made in March by donating $1.5 million of his own money. And he’s done it to prove a point, he says, that the U.S. economy is in such bad shape, people will flock to cryptocurrency instead. Srinivasan initially announced a $1 million bet in March,…
United States Congressmen Warren Davidson and Mike Flood have written a letter to the chair of the Council of Economic Advisers (CEA) demanding an explanation for a chapter the agency prepared for the Economic Report of the President that expressed “a hostile view towards the digital asset ecosystem.” The report, presented to Congress is March, contained a chapter titled “The…
