Macro Markets, hosted by crypto analyst Marcel Pechman, airs every Friday on the Cointelegraph Markets & Research YouTube channel and explains complex concepts in layperson’s terms, focusing on the cause and effect of traditional financial events on day-to-day crypto activity. PacWest Bancorp’s 50% price decline and the ongoing banking crisis are the first topics of
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Confidence in the United States financial system seems to be eroding fast with investors trying to find the next weakest link that is about to collapse. Bill Ackman, CEO of hedge fund management firm Pershing Square, cautioned that time was running out to fix the problem. The U.S. equities markets have become vulnerable to adverse
The United Kingdom’s Financial Conduct Authority, or FCA, has announced the inspection of sites across the country “suspected of hosting illegally operated crypto ATMs.” In a May 5 announcement, the FCA said it had coordinated with local authorities in the cities of Exeter, Nottingham and Sheffield to raid facilities suspected of operating unregistered cryptocurrency ATMs.
Smart contract auditor CertiK claims to have blocked $160,000 from Merlin, a zk-Sync-based decentralized exchange (DEX) which has been the center of a rogue insider “rugpull” that lost users $1.8 million last week. CertiK shared the news of its successful $160,000 freeze of the stolen funds in an update to its 257,700 Twitter followers on
The Nigerian Federal government said on May 3 it had passed what it called the “national blockchain policy.” The Nigerian minister of communications and digital economy, Isa Pantami, said the new policy is a product of consultations with 56 institutions and personalities. Lucky Uwakwe, the founder of the technology service delivery company Sabi Group, said
Fintech firm Block, owned by Twitter founder Jack Dorsey, has reported a staggering $2.16 billion in Bitcoin (BTC) revenue on its bellwether product Cash App in Q1. According to a shareholder letter announcing its Q1 2023 earnings, Block (NYSE:SQ) reported that its Bitcoin revenue — which counts BTC revenue as total sales of the cryptocurrency
Anyone who has dealt with trading in traditional finance is likely to be aware of profit and loss (PnL). But is PnL in the cryptocurrency world the same? The ability to comprehend terms like mark-to-market (MTM), realized PnL and unrealized PnL will help develop a better understanding of the cryptocurrency a person holds. Without a
The United States vice president and President Biden’s top advisors have held a meeting with several AI industry CEOs to discuss “concerns about the risks associated with AI.” On May 4, U.S. vice president Kamala Harris was joined by nine top Biden administration advisors in science, national security, policy and economics, meeting with the CEOs
Iranian President Ebrahim Raisi has condemned the current unipolar world order, emphasizing that Iran plans to join the BRICS group to help create a multipolar world. “Iran wants to have constructive relations with all states on the basis of common interests,” he stressed. Iran Condemns Unipolar World Order Iranian President Ebrahim Raisi said on Tuesday
There’s a beacon of light in the bear market tunnel. The El Salvador nonprofit program, “My First Bitcoin” (Mi Primer Bitcoin), raised over 1 Bitcoin (BTC) in donations-not from venture capitalists and investors–but from generous Bitcoin education advocates worldwide. Donations flooded in from Venezuelans, Poles and Canadians as 100s of people around the world sent
Consensus, the annual crypto and blockchain conference, attracted over 15,000 attendees, 220 sponsors and 410 speakers to its 2023 edition in Austin, Texas, despite recent regulatory struggles around cryptocurrency adoption in the United States. The turnout at Consensus 2023 demonstrated that U.S.-based companies and international organizations are still very much interested in implementing Web3 technology
Our weekly roundup of news from East Asia curates the industry’s most important developments. SUI rises to glory as Sun sets sights on it On Apr. 30, cryptocurrency exchange Binance unveiled two LaunchPools for the then-up-and-coming listing of Sui tokens. As a Layer-1 blockchain created by Mysten Labs, which in turn was founded by former
Summary: Smart contracts for Curve Finance’s crvUSD stablecoin went live on Ethereum’s mainnet, the team shared via a Twitter update on May 3. “This is not finalized yet because UI also needs to be deployed. Stay tuned!” said crvUSD developers promising a user interface for the stablecoin. crvUSD enters a highly competitive Ethereum stablecoin market
A moderator of the popular trading subreddit r/WallStreetBets has dumped a large portion of the WSB Coin (WSB), a token project that claims to be the official memecoin of Wall Street Bets. On May 2, WSB was launched by people involved in moderating the WallStreetBets Reddit forum. The subreddit gained notoriety for the GameStop short
There’s a narrative that’s grown up around Ethereum’s two most important co-founders, Joe Lubin and Vitalik Buterin, to explain how they went in different directions almost a decade ago. It suggests the pair fell out over the blockchain’s future direction, with the idealistic 20-year-old Buterin determined to turn Ethereum into a nonprofit foundation, while Lubin
In the wake of Florida Governor Ron DeSantis’ remarks in Jacksonville on Tuesday, both the Florida House of Representatives and Senate have approved the state’s anti-central bank digital currency (CBDC) legislation, dubbed SB 7054. The bill explicitly states that should the U.S. central bank, a federal agency, or a foreign government issue a CBDC, its