Summary: A trader splurged almost $1 million buying Bitcoin Inscription #5232025 amid growing debates about congestion on the BTC network. This particular BTC Inscription holds 50,000 ORDI coins, the native asset of Ordinals Protocol which was created by developer Casey Rodarmor. ORDI was introduced earlier this year using the BRC-20 standard after developer Rodarmor designed
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Bitcoin (BTC) tracked $27,500 on May 10 as markets geared up for what should be a positive United States inflation print. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView CPI set for months of decline Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it lingered in a narrow trading range ahead of the April
United States President Joe Biden recently shared an infographic on Twitter, calling to end “tax loopholes” that allegedly help wealthy crypto investors. Community members responded to the tweet, questioning the figures shared by the president and if the said loopholes exist. Cutting such loopholes would save about $18 billion, according to Biden. However, the president
Nigerian human rights activist and lawyer, Femi Falana, has accused the International Monetary Fund (IMF) and the World Bank (WB) of sabotaging the currency swap arrangement between China and Nigeria. Falana said the Nigerian central bank and the two global financial institutions are helping to perpetuate “the dominance of the United States dollar in Nigeria.”
Three new crypto-focused exchange-traded funds (ETFs) have been put forward for approval by cryptocurrency asset manager Grayscale Investments, which also announced a new entity to manage its growing funds. On May 9, Grayscale said it launched a new arm of its business — the Grayscale Funds Trust — allowing it to manage many of its
Lawyers for NBA star Shaquille O’Neal, who previously endorsed the now-bankrupt crypto exchange FTX, have claimed two process servers inadequately delivered legal documents after previously failed attempts. In a May 8 filing for United States District Court in the Southern District of Florida, Shaq’s legal team said following “a failed motion to serve” the NBA
Where would you hide $3.4 billion worth of Bitcoin? For James Zhong, the ideal spot was to store it on a computer — with its circuitry exposed — placed in a used Cheetos popcorn tin hidden in a bathroom closet under a pile of blankets. Zhong, now 32, was sentenced to a year in federal
Bitcoin (BTC) treaded water below $28,000 on May 9 as markets prepared for macroeconomic data releases. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin stays muted on eve of CPI Data from Cointelegraph Markets Pro and TradingView showed BTC/USD acting near $27,700 at the day’s Wall Street open. The pair had seen deeper losses the
Worldcoin, the project supported by Openai CEO Sam Altman, has launched the World App to complement the release of World ID. The application aims to democratize decentralized identities and finance by utilizing World ID to enable users to sign into different websites, crypto applications, and share personal data in a privacy-focused manner. Worldcoin Unveils World
On May 9, the total market capitalization of BRC-20 Bitcoin tokens surpassed $1 billion, with a total trading volume of $207.7 million in the past 24 hours. Some of the most notable deployed tokens include ordi, nals, VMPX, pepe, and meme, with price variance of between +11% and -55% within the past day. According to analysts
Financial technology company PayPal recently disclosed its cryptocurrency holdings in a quarterly report filing to the Securities and Exchange Commision (SEC). Claiming a combined total of $943 million in cryptocurrency assets as of March 31, 2023, the filing shows a 56% increase over the company’s previous quarter where PayPal disclosed $604 million. PayPal’s reported total financial
A federal judge has sentenced Ishan Wahi, the former product manager at Coinbase Global accused of insider trading, to 24 months in prison. In a May 9 hearing in United States District Court for the Southern District of New York, Judge Loretta Preska sentenced Wahi to 24 months in prison for his role in using
Former CEO of crypto exchange FTX, Sam Bankman-Fried, has asked a judge in the U.S. to dismiss several charges against him filed after his extradition from the Bahamas. His lawyers insist that prosecutors have not obtained consent from Bahamian authorities for the additional counts. FTX’s Sam Bankman-Fried Urges Court to Drop Post-Extradition Charges Attorneys representing
As so-called “memecoins” capture the attention of the wider crypto industry in recent weeks, a viral video has emerged detailing just how easy it is for anyone with an internet connection to create a brand new cryptocurrency from scratch. A May 6 video from digital artist Johnny Shankman — who goes by @whitelights.eth on Twitter
Warren Buffett moving into cash suggests that he’s bracing for a possible collapse in risk-on asset prices. With Bitcoin (BTC) up 70% year-to-date and correlated with equities, should BTC investors also prepare for a potential stock market crash? Buffett says “incredible period” is over Warren Buffett’s Berkshire Hathaway dumped $13.30 billion worth of equities and
While the interest in crypto investments has been on the rise last year among the home offices, 2023 saw a massive decline in such investors’ certainty about the digital assets market. According to a Goldman Sachs report on May 8, named “Family Office Investment Insides,” 32% of family offices currently hold investments in digital assets.