CBDC developers have made little progress in developing products capable of “preserving privacy,” and government is not complaining. Source: https://cointelegraph.com/news/privacy-minded-cbdcs-wolf-sheeps-clothing
Month: June 2024
Jason Derulo Scandal and Celebrity Crypto Endorsements
Risks of Celebrity Crypto Endorsements Pop icon Jason Derulo finds himself at the center of controversy after promoting a meme coin named JASON, which plummeted in value shortly after its release. Known for his musical performances, Derulo’s involvement in the volatile meme coin market has initiated a broader debate about the ethical concerns and potential risks of celebrity crypto endorsements.…
JPMorgan: Bitcoin Miners’ Market Cap Jumps 22% Following AI Hosting Deal
Global investment bank JPMorgan has observed a notable surge in investor interest in bitcoin miners after Core Scientific announced it would host 200 MW of GPUs for AI hyperscaler Coreweave. According to JPMorgan, the combined market capitalization of 14 tracked miners has increased by $4 billion since the announcement. This rise occurred even as bitcoin […] Source: https://news.bitcoin.com/jpmorgan-bitcoin-miners-market-cap-jumps-22-following-ai-hosting-deal/
Bitcoin analysts forecast BTC price drop to $50K before parabolic run begins
A handful of Bitcoin analysts now believe BTC price is headed below $50,000. Cointelegraph explores why. Source: https://cointelegraph.com/news/bitcoin-analysts-forecast-btc-price-drop-to-50k-before-parabolic-run-begins
Music Industry Giants Sue AI Music Services Udio and Suno
The Recording Industry Association of America—along with a coalition of music industry titans—has filed a lawsuit against AI developers Udio and Suno, the group announced on Monday. The lawsuit stems from what the RIAA described as “mass infringement of copyrighted sound recordings.” In lawsuits filed in the Southern District of New York and the District of Massachusetts, the RIAA alleges…
Former Fed President Discusses Potential for 2 Interest Rate Cuts This Year
Former Boston Fed President Eric Rosengren has outlined the potential for two interest rate cuts this year. He cited recent Federal Open Market Committee (FOMC) discussions and stabilizing inflation trends. “I am expecting we’ll probably get some more favorable inflation numbers over the next couple of months,” he opined. ‘I Don’t Think We’re Down to […] Source: https://news.bitcoin.com/former-fed-president-discusses-potential-for-2-interest-rate-cuts-this-year/
Hut 8 Gets $150M to Boost AI Infrastructure
The insatiable demand for power by artificial intelligence firms is benefiting Bitcoin miners. Hut 8 (NASDAQ:HUT) shares outperformed most peers on Monday after the Miami-based company received a $150 million investment from Coatue Management to develop AI infrastructure. This investment will be provided through convertible notes with an 8% annual interest rate and a conversion rate of $16.395 per share,…
President of Jump Crypto steps down
Kanav Kariya announced his resignation amid reports of a pending investigation into Jump Crypto’s activities and several incidents dating back to 2022. Source: https://cointelegraph.com/news/president-jump-crypto-steps-down
Kaiko Research: Latam Crypto Traders Prefer Stablecoins Over Bitcoin
Kaiko, a leading cryptocurrency market data analytics firm, has found that cryptocurrency users in Latin America prefer stablecoins over bitcoin. In its most recent Latam market report, issued in June, Kaiko determined that 40% of the trading volumes involved Tether’s USDT. This preference exists even though Bitcoin’s proposition includes protection against the currency debasement processes […] Source: https://news.bitcoin.com/kaiko-research-latam-crypto-traders-prefer-stablecoins-over-bitcoin/
Japanese Institutional Crypto Investment Rise: Nomura Survey
Japanese Institutional Crypto Investment Trends Japan’s largest investment bank, Nomura Holdings (TYO:8604), and its crypto subsidiary, Laser Digital, released findings from a recent survey on Monday. The survey targeted over 500 investment managers in Japan, revealing that 54% plan to allocate funds to crypto assets within the next three years. Motivations and Barriers for Japanese Institutional Crypto Investment More than…