The increase of crypto lobbyists recently sparked an effort from anti-crypto individuals in the tech space to urge regulators through a letter to resist the influence of blockchain advocates. In response, the crypto community criticized the move and laid out counterarguments against the contents of the letter. Signed by 26 tech personalities, the letter sent
Month: June 2022
A report published by the Economist paints a bright future for cryptocurrency adoption, with survey respondents anticipating growing demand in the near future. Economist Impact published findings of its ‘Digimentality Report’, delving into consumer trust in digital payments and the stumbling blocks that have hampered the digitization of basic monetary functions. The data obtained provide
The crypto world is well known for its volatility. Especially in the early days, digital assets experienced wild price swings, gaining or losing double-digits in the course of a day. It appears that the current bear market is no exception to this trend. While wild price swings provide opportunities to make gains — if you’re
Scott Melker, better known as The Wolf of All Streets, is a trader and crypto advocate who is far more approachable than his online handle might suggest. A former DJ, Melker operates a small crypto advocacy empire spanning YouTube videos, podcasts and a popular newsletter. Scott Melker is open about his initial intentions in the
Summary: The OG chain continues to lead the non fungible token pack. ETH’s blockchain crossed $25 billion in NFT sales for all time at the end of May. The landmark moment solidified Ethereum’s position above competitors like Ronin and Solana. The mammoth network also achieved the feat despite dwindling NFT trading volumes and the cooldown
Bitcoin mining revenue and profitability have continued to slide along with the asset’s price this year as the crypto winter deepens. May has been one of the worst months for Bitcoin miners in the past year as revenue and profitability continue to tank. Bitcoin daily mining revenue tanked as much as 27% in May, according
Optimism’s freshly launched governance token OP has plunged 40% since peaking at $2.10, leading members of the community to discuss baring those who dumped their tokens from future airdrops. Cointelegraph reported yesterday that the Ethereum Layer-2 scaling solution was overwhelmed with demand for the first OP governance token airdrop, as 5% of the token supply
Capital Union, a Bahamas-based bank that reportedly holds a portion of reserves by the Tether (USDT) stablecoin issuer, has been itself actively involved in the cryptocurrency industry. The banking institution has rolled out crypto trading and custody services to its professional clients as part of the bank’s trading desk, a spokesperson for Capital Union told
The Monetary Authority of Singapore (MAS) has partnered with major banks and financial services companies to explore the uses of asset tokenization and decentralized finance (defi). DBS Bank and JPMorgan will pilot the first project. Project Guardian Launched The Monetary Authority of Singapore (MAS), the country’s central bank, announced Tuesday that it has partnered with
Stablecoin projects have been thrust into the limelight over the past month as the popularity of algorithmic stablecoins and the collapse of the Terra project put a spotlight on the important role dollar-pegged assets play in the crypto market. In response to the void left by UST, multiple protocols have released new stablecoin projects in
Bitcoin (BTC) and the wider cryptocurrency market are taking a breather after the rally on May 31. Meanwhile, most altcoins remain severely oversold, with most between 70% and 90% below their all-time highs. Total altcoin index capitalization What is clear is that fear is everywhere and blood is in the water. Risk-on markets are suffering
Despite May’s price correction, which took Bitcoin (BTC) as low as $23,800, institutional investors seem unwilling to lose confidence in the cryptocurrency. The Purpose Bitcoin ETF, launched in February 2021, has been seeing a consistent inflow over the last five trading days. The fund’s holdings have increased to 43,701.7 BTC as of Tuesday, according to
Bitcoin (BTC) has made a tentative start to the month of June, suggesting that bears have not gone into hibernation just yet. Although Bitcoin is trading nearly 55% off its all-time high of $69,000, whales and institutions remain cautious and have not jumped into the market with gusto, according to BlockTrends analyst Caue Oliveira. According
Get ready for fundamental change in money and payments, John Williams, president and CEO of the Federal Reserve Bank of New York, told central bank officials, academics and financial industry leaders from around the world Wednesday. Williams delivered the opening remarks at an invitation-only workshop on monetary policy implementation cohosted by the New York Fed
Summary: The New York Department of Justice has announced that it will be charging a former OpenSea employee for alleged insider trading of NFTs. The former employee was arrested and will be presented in the United States District Court for the Southern District of New York. The charges cite that the Opensea employee used his
The crypto winter has emotions running high. Kraken CEO Jesse Powell came under fire for his defense of listing the new LUNA, also known as LUNA 2.0, which seeks to bring the original LUNA — now known as Luna Classic (LUNC) — and TerraUSD — now known as TerraUSD Classic (USTC) — back from the dead.