Bitcoin’s on-chain data provides evidence that Bitcoin miners are offloading their holdings. The factors influencing the selling pressure could be reduced earnings from a cooldown in Ordinals activity as well as mining difficulty and hash rate reaching an all-time high. According to on-chain analytics firm Glassnode, “Miners have been sending a significant amount of coins to
Month: June 2023
Stablecoin issuer Tether minted a fresh batch of $1 billion worth of USDT (USDT) on the Ethereum blockchain on June 12. The latest billion-dollar mint for the stablecoin issuer comes within two months of its last mint on April 21. Tether CTO Paolo Ardoino took to Twitter to clarify that the latest USDT mint is part
Members of the United States House of Representatives are pushing for ways to remove Securities and Exchange Commission (SEC) Chair Gary Gensler from his position, but the legality may be more complicated than a single piece of legislation. On June 12, Ohio Rep. Warren Davidson introduced the SEC Stabilization Act with the expressed intention of
In a new tweet, Ripple CEO Brad Garlinghouse claims that the highly anticipated “Hinman documents” were “well worth the wait,” hinting at their potential significance in the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). With the documents expected to be unsealed this week, here is a recap of what
After the tough sell-off seen in the past week, the cryptocurrency markets will be looking for some support from the macroeconomic data this week. The all-important United States consumer price index report on June 13 will be followed up by the Federal Reserve’s policy decision on June 14. Both these events could trigger a sharp
A bearish trend formation has been pressuring cryptocurrency prices for the past eight weeks, driving the total market capitalization to its lowest level in more than two months at $1.06 trillion, a 2.4% decline between June 4 and June 11. This time, the move wasn’t driven by Bitcoin (BTC), as the leading cryptocurrency gained 0.8%
The Bitcoin (BTC) community in Europe continues to be a voice in combatting social problems affecting the continent, according to podcast host Erik Dale. The founder and CEO of the Northern Lightning conferences, which hosts several Bitcoin events across Europe, believes the continent’s Bitcoin community is fostering ideals that will be crucial to address ongoing
The Bitcoin network’s proof-of-work consensus mechanism could become a useful means of securing a variety of proof-of-stake (PoS) smart contract blockchain protocols, thanks to efforts from a Stanford University professor. David Tse and his research team are driving the use of the preeminent cryptocurrency to provide added security to PoS networks. Tse’s proprietary Babylon blockchain aims
Just as we don’t allow just anyone to build a plane and fly passengers around, or design and release medicines, why should we allow AI models to be released into the wild without proper testing and licensing? That’s been the argument from an increasing number of experts and politicians in recent weeks. With the United Kingdom
Venture capital firm Andreessen Horowitz (a16z) is set to open its first office outside of the United States this year, adding to the backdrop of U.S.-based firms seeking greener pastures outside of the country. Chris Dixon, a16z’s crypto founder and managing partner cited a “predictable business environment” as one of the main factors behind its
While data suggests that crypto assets have been flowing out of centralized exchanges at an accelerated pace over the last week, Binance CEO Changpeng Zhao argues it may not be as bad as it appears. Leading analytics platforms such as Nansen and DeFiLlama have all measured increased exchange outflows from Binance over the past seven
United States President Joe Biden and the Democratic Party risk losing its crucial youth voters as a result of its continued “war against crypto,” according to the Winklevoss twins. On June 10, co-founder of the crypto exchange Gemini, Cameron Winklevoss, tweeted the Democrats will “alienate an entire generation” of youth voters due to its war
Altcoin prices crumbled after the United States Securities and Exchange Commission (SEC) announced lawsuits against Binance and Coinbase at the start of the week. Apart from the action against the two biggest crypto exchanges, investors seem to be nervous because the SEC labeled 23 cryptocurrencies as securities in the two lawsuits. That brings the total
The Solana Foundation took to Twitter to address for the first time the U.S. Securities and Exchange Commission’s classification of its native token, Solana (SOL), as a security. “The Solana Foundation disagrees with the characterization of SOL as a security,” reads a statement from June 10, noting that it welcomes the engagement of policymakers to
Brian Armstrong, the CEO of cryptocurrency exchange Coinbase, is confident that the United States will achieve regulatory cryptocurrency, “even if it takes a while.” However, he believes this is the vital component to luring entrepreneurs back to the country. Armstrong sat down for an interview with Wall Street Journal on June 11, just days after
With the rapid evolution and increasing adoption of cryptocurrencies, the need for regulatory clarity has become paramount. U.S. Senator Cynthia Lummis has said that her efforts to push for a positive regulatory framework are still in motion. Senator Lummis garnered praise from the crypto community on Twitter as she shared her commitment to developing a
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