The chairman of the State Duma Committee on the Financial Market says that an agreement on the BRICS currency can be reached in 2023 as BRICS nations ramp up their de-dollarization efforts to shift away from U.S. dollar reliance. “By linking its economy and currency to politics, the U.S. is practically undermining the foundations of
Month: April 2023
Risky assets marginally extend their up-move in April. The S&P 500 Index rose around 1.5% in April while Bitcoin (BTC) is on track to end the month with gains of more than 4%. Could the rally continue in May or is it time for a pullback? The recovery could face headwinds if the United States
It now costs Bitcoin (BTC) miners at least $17,000 to produce one BTC in the U.S. versus the $5,000-10,000 range a year ago, according to Bitcoin mining data resource Hashrate Index and Luxor. Bitcoin hashprice has dropped 58% in a year Unsurprisingly, soaring electricity rates across the U.S. states have contributed to rising Bitcoin mining costs. Notably, between
The United States Federal Deposit Insurance Corp’s (FDIC) post-mortem assessment of Signature Bank of New York (SBNY) revealed poor management and inadequate risk management practices as the root cause for its collapse. Signature Bank was shut down by federal regulators on March 12 in a bid to protect the U.S. economy and strengthen public confidence
Just over two weeks have passed since Ethereum’s Shapella upgrade on April 12, 2023, which occurred at block height 6,209,536, enabling stakers to withdraw for the first time. At the time of the upgrade, slightly over 8 million ethereum was locked into liquid staking protocols. Since then, over 400,000 ether, valued at $763 million, has
Prominent YouTuber DidYouKnowGaming was able to regain access to his YouTube channel, which an anonymous bad actor hacked to promote XRP (XRP) cryptocurrency scams. While hacking into YouTube channels to promote scams has been a long-standing method of targeting unwary investors, the number of creators on the platform reporting hacks has increased. Most recently, DidYouKnowGaming
Top Stories This Week Circle launches cross-chain USDC transfer protocol Circle launched a cross-chain protocol that enables USDC transfers between the Ethereum and Avalanche blockchains. The protocol works by burning the selected amount of native USDC on the source chain, and minting an equivalent amount of new USDC on the intended destination chain. The protocol
An executive at JPMorgan Asset Management is unsure how United States regional banks are “going to operate” when the Federal Deposit Insurance Corporation (FDIC) and Federal Home Loan Bank (FHLB) emergency lending programs expire – warning that the possible collapse of First Republic Bank may cause a domino effect. In an April 27 Bloomberg television
At 11:06 a.m. Eastern Time (ET) on April 29, 2023, at block height 787,500, the number of blocks left to discover until the next Bitcoin blockchain halving is now fewer than 52,500 blocks. This means the network has progressed 75% through the 210,000-block halving cycle, which will ultimately result in a reduction of the block
The Hong Kong Monetary Authority (HKMA), the city’s central banking institution and regulator, has called on banks to provide their services to cryptocurrency firms. On April 27, HKMA issued a circular related to the access of corporate customers to banking services. In the document, the regulator has required authorized institutions, referred to as AI, to
Researchers at Indiana University and the University of Maine recently published a study examining the current state of cryptocurrency tax law in the United States. The research concludes with recommendations for the Internal Revenue Service (IRS) that, if adopted, would prevent taxpayers from weighing crypto losses against other capital gains. The paper, dubbed simply “Crypto
This week, the Statistics Bureau of Japan unveiled the latest core consumer price index (CPI) report for the country, revealing a surge to 3.5%. This figure comes as a surprise to analysts who had predicted a more modest 2.9% for the end of the quarter. It’s worth noting that Japan’s inflation has been steadily rising
Bitcoin (BTC) returned to a familiar range on April 27 as panic over alleged Mt. Gox and United States government transactions faded. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Rough” price action keeps Bitcoin traders cautious Data from Cointelegraph Markets Pro and TradingView showed BTC/USD traded near $29,000 on Bitstamp, up nearly $2,000 from the
If Bitcoin (BTC) were a country, it might be one of the biggest in the world. That’s according to Jeff Booth, general partner at Bitcoin venture fund Ego Death Capital and author of The Price of Tomorrow: Why Deflation is the Key to an Abundant Future. Cointelegraph spoke to Booth to better understand and visualize the Bitcoin movement’s
At the intersection of tech and cryptocurrency news, the Google for Startups Cloud Program has expanded to include 11 blockchain firms. Together, the entities will provide grants, expertise and services to emerging Web3 entrepreneurs. Meanwhile, the United Kingdom government has allocated $125 million in funding for a task force aimed at accelerating the country’s artificial intelligence
Scottish-Salvadoran driver Sebastian Melrose has made his debut in the Porsche Carrera Cup racing championship. The 25-year-old, who took part in a popular Netflix TV series last year, drives a Bitcoin-branded 911 that features the flag of crypto-friendly El Salvador on its rooftop. Bitcoin Racing Team Joins Porsche Carrera Cup With Netflix Celebrity in the
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