The United States House Committee on Financial Services a.k.a the Financial Services Committee will hold a hearing on April 19 to discuss stablecoins’ position as a means of payment and whether or not the ecosystem needs supporting legislation. The Financial Services Committee issued a memorandum to announce an upcoming hearing titled “Understanding Stablecoins’ Role in
Month: April 2023
In crypto news this week, the Ethereum network’s long awaited Shapella upgrade took effect, unlocking staked ether. In the broader financial world, economist Harry Dent has predicted a massive crash to hit by mid-June, bank lending plummeted by a record $105 billion in two weeks, and the USD’s ability to maintain its value even in
Bitcoin (BTC) consolidated into the weekend as market participants stayed optimistic about further gains. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Most still sitting on the sidelines” with Bitcoin Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering near $30,500 on April 15. The pair had finished the Wall Street trading week on a
Digital art auction house Sotheby’s has altered its latest art sale significantly after receiving community feedback regarding a lack of diversity, meanwhile a novice player in Illivium: Beyond has made a staggering profit of 140,525% by finding the most elusive character in the game yet. Sotheby’s reboot Glitch Digital Art Sale after addressing diversity concerns
The law firm representing victims affected by the FTX collapse have publicly appealed to NBA superstar Shaquille O’Neal to show “courtesy and honor” by actually accepting their legal complaint after several unsuccessful attempts. In an April 14 tweet, The Moskowitz Law Firm revealed its team have been standing outside O’Neal’s TNT studios in Atlanta “all
Russia’s foreign minister says a flight from the U.S. dollar “is sure to accelerate,” emphasizing that “this trend is irreversible.” The official added: “The path of sanctions is the path to nowhere. Serious countries and sober-minded politicians are drawing relevant conclusions and these conclusions are definitely in favor of terminating dependence on the West.” Russian
Top Stories This Week Ethereum’s Shapella hard fork executed on mainnet The Ethereum blockchain’s mainnet, also referred to as the Beacon Chain, implemented the Shapella hard fork on April 12. The upgrade made fund withdrawals possible for those who have staked the network’s Ether (ETH) asset. Within the first hour of the hard fork, a
Despite the unprecedented regulatory pressure that crypto has been facing recently in the United States, the fight between the American government and the crypto industry has just started, believes ShapeShift CEO Erik Voorhees. According to the entrepreneur, U.S. authorities still don’t see crypto as an existential threat to the fiat system, and their recent crackdown
A new draft bill providing a framework for stablecoins in the United States was published on the House of Representatives’ document repository, a few days before a hearing on the topic on April 19. The draft puts the Federal Reserve in charge of non-bank stablecoin issuers, such as crypto firms Tether and Circle, respectively issuers
Blackrock’s CEO, Larry Fink, stated in an interview on Friday that he does not anticipate a “big recession” in the United States. However, he believes that “inflation is going to be stickier for longer.” In contrast to the U.S. central bank’s 2% goal, Fink predicts that “we’re going to have a 4ish floor in inflation.”
The price of Bitcoin (BTC) has grown by more than 50% since Tesla unveiled its approximately $1 billion BTC sales in July 2022. In other words, the Elon Musk-owned electric carmaker would have made an additional $500 million if it had waited until today to sell. Are Tesla’s Bitcoin trades profitable? Tesla infamously dumped nearly
Blockchain security tech firm BlockSec has launched a new toolkit that enables collaborative testing on private chains “forked from arbitrary (transaction) positions” and block numbers on the Ethereum mainnet. The developer and security researcher-focused toolkit is dubbed the “Phalcon Fork” and was launched by BlockSec on April 14. We’re thrilled to introduce Phalcon Fork, a
South Korean prosecutors confirmed that Terraform Labs CEO Do Kwon sent 9 billion won ($7 billion) to Kim & Chang — a top South Korean law firm — right before the spectacular collapse of the Terra ecosystem. Kwon’s decision to send millions to the law firm was flagged by prosecutors as a deliberate move, which allegedly
Bitcoin (BTC) price rallied over 10% between April 9 and April 14, marking the highest daily close in more than ten months. While some analysts may argue the move justifies a degree of decoupling from traditional markets, both the S&P 500 and gold are near their highest levels in over six months. Bitcoin price breaks
On Friday, Chia Network Inc. announced that it had submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission (SEC), requesting an initial public offering (IPO). The blockchain network company, founded by Bittorrent creator Bram Cohen, will initiate the IPO after the U.S. securities regulator approves the filing. Bittorrent Creator’s
Bitcoin (BTC) and Ether (ETH) are trading above the psychologically important levels of $30,000 and $2,000 respectively. This suggests that the crypto winter may be on its last legs. Some analysts are calling for an altseason to begin but it may be too early for that. When most of the crypto bears turn bullish, Bitcoin
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