From being the market’s biggest bulls this time last week, meme coins Pepe (PEPE) and Shiba Inu (SHIB) have now turned into the market’s biggest bears. Over the last seven days, both coins have plummeted in value, posting losses of over 20%, according to CoinGecko. PEPE leads the fall with a 22% drop, currently changing hands at $0.00000111. SHIB’s intra-week…
The Friend.tech app built on the Coinbase-incubated Ethereum layer-2 Base has seen activity soar since Friday. The app tokenizes Twitter accounts on-chain, letting users buy and sell “shares” of their favorite social media personalities. Likely built by pseudonymous developer Racer, Friend.tech went live with an invite-only beta on August 11—a day after Base’s mainnet launch. The application hit server capacity…
Bitcoin (BTC) starts a new week with traders licking their wounds after a 10% snap crash. BTC price action is struggling to recover from a manic end to the days prior to the weekend, and the fear is palpable going into what could turn out to be an equally volatile few days. With $26,000 so far forming the focus for…
Cash App, a multipurpose financial app, offers various capabilities, including money transfers, investment options and cryptocurrency purchases. Serving as a comprehensive financial tool, Cash App provides users the capacity to handle transactions, invest in stocks, and explore digital currencies like Bitcoin (BTC). The app aims to streamline financial tasks and assist users in navigating the modern financial landscape. What is…
Seychelles-based cryptocurrency derivatives exchange Bitget is updating its Know Your Customer (KYC) requirements for users to stay in step with global regulatory guidelines. According to the company, the new KYC requirements are being instituted to protect user rights and interests, shape a secure cryptocurrency trading environment and comply with regulatory recommendations from various global watchdogs. BitGet will adjust its KYC…
China is reportedly looking to implement a system akin to its social credit system, but in the Metaverse and other online virtual worlds. Proposals viewed by POLITICO and reported on Aug. 20 show the state-owned telco China Mobile proposed a digital ID for all metaverse and online virtual world users that work with “natural characteristics” and “social characteristics.” The proposals…
Bitcoin is giving plenty of longtime market participants reason to forecast a return to its previous cycle’s $20,000 all-time high — or worse. Source: https://cointelegraph.com/public/index.php/news/bitcoin-bearadise-20k-back-btc-price-target
Ordinal inscriptions have continued to dominate activity on the Bitcoin network over the past week despite the cryptocurrency’s recent price decline and suggestions that the hype around Bitcoin NFTs have “died.” On Aug. 21, Ordinals developer “Leonidas” pointed out that Bitcoin had 530,788 transactions over the past 24 hours, with 450,785 of those transactions being Ordinals related. “In the midst…
The founder of layer-1 blockchain Jurat has defended his protocol against potential haters, arguing that on-chain legal enforcement is a necessary trade-off for crypto mass adoption. On Aug. 8, a U.S. District Court used Jurat’s on-chain enforcement tool to lock several sanctioned individuals out of their crypto accounts. These individuals were sanctioned for money laundering and using ransomware to extort…
British Prime Minister Rishi Sunak is set to spend $130 million (100 million pounds) to buy thousands of computer chips to power artificial intelligence, amid a global shortage and race for computing power. The Telegraph reported on Aug. 20 that the United Kingdom aims to build an “AI Research Resource” by mid-2024 as part of Sunak’s plan to make the…
