The global lending institution, the International Monetary Fund (IMF) has told the Kenyan central bank that its proposed digital shilling must “do no harm” to existing private sector digital money. The lender insisted the proposed central bank digital currency (CBDC) must “not stifle such welcome digitalisation developments by taking away customers of banks and other
Bitcoin News
Bitcoin (BTC) price rallied toward $24,200 on July 28 after a near-10.5% surge that began a day earlier. The gains appeared after Federal Reserve Chairman Jerome Powell signaled intentions to slow down the Fed’s prevailing tightening spree. This prompted some Bitcoin analysts to predict short-term upside continuation, with pseudonymous analyst CryptoHamster seeing BTC at $26,000
The proliferation of cryptocurrencies around the world has been driven by different use-cases, with key differences becoming apparent between developed and emerging market environments. Lou Yu, who heads up KuCoin Labs, tackled the subject after a keynote address during the second day of Blockchain Economy Istanbul in Turkey. In an exclusive interview with Cointelegraph, Yu
Meta joined Alphabet and Microsoft in releasing disappointing quarterly financials, following the company’s Q2 earnings call. In a week of a disappointment for mega-cap stocks, the trio has all missed revenue and earnings expectations, with Meta seeing its first quarterly sales decline ever recorded. Economic Slowdown Due to the current global economic slowdown, markets had
The global cryptocurrency ATM market is projected to grow at a rapid rate over the next five years, as market research predicts the space to be worth half a billion dollars by 2027. Research and Markets published a new report, which estimates a compound annual growth rate of 59% for the industry from 2022 to 2027.
Russia could be a large player in the crypto mining space, experts in the field have established in research naming the most attractive regions for coin minting operations in the country. The capital Moscow is among the popular mining destinations alongside the places offering the cheapest power. Cost of Electricity, Logistics Determine Russian Miners’ Choice
Three Arrow Capital (3AC), a Singapore-based crypto hedge fund that at one point managed over $10 billion worth of assets, became one of the many crypto firms that went bankrupt in this bear market. However, the fall of 3AC wasn’t purely a market-driven phenomenon. As more information surfaced, the collapse looked more like a self-inflicted
The Sumitomo Mitsui Banking Corporation (SMBC), the second largest of the three biggest banks in Japan, has announced it is planning to expand into digital asset businesses, including non-fungible tokens (NFTs) and Web3 platforms. The company will partner with Hashport, a group that offers tokenization and listing services in Japan, to launch a token business
James Howells, a British man who mistakenly discarded a hard drive containing roughly 7,500 Bitcoin in 2013 has reportedly started looking at having robots and humans work together to retrieve his crypto from a local landfill. According to a Sunday report from Business Insider, Howells has pitched an $11-million idea to locate and recover the
Record-breaking heat waves are being documented across the world as extreme weather is worsening due to climate change. States throughout America are continuing to see temperatures rise above 100 degrees Fahrenheit (38 degrees Celsius), while the United Kingdom recently saw temperatures reach 104 degrees Fahrenheit (40 degrees Celsius). While hot climates may be unusual for
Coinbase, the U.S.-based cryptocurrency exchange, is reportedly facing a probe from the Securities and Exchange Commission (SEC) over the listing of several crypto assets on its platform. The investigation, according to three people with ostensible knowledge of the matter, is examining whether the exchange has been listing assets that can be classified as unregistered securities.
Tesla’s decision to offload most of its Bitcoin (BTC) treasuries netted the company a hefty profit in the second quarter, even as crypto prices plunged into a bear market. In the first six months of 2022, Tesla recorded $170 million of impairment losses “resulting from changes to the carrying value” of its Bitcoin holdings, according
The total crypto market capitalization broke above $1 trillion on July 18 after an agonizing thirty-five-day stint below the key psychological level. Over the next seven days, Bitcoin (BTC) traded flat near $22,400 and Ether (ETH) faced a 0.5% correction to $1,560. Total crypto market cap, USD billion. Source: TradingView The total crypto capitalization closed
Chipotle Mexican Grill, often referred to as simply Chipotle, has announced a new cryptocurrency game that encourages fans to “Buy the Dip.” The game aims to give away over $200K in crypto rewards and coupons for specific foods priced at a penny. Chipotle Returns With Another Crypto-Infused Contest In April 2021, Bitcoin.com News reported on
In the aftermath of the Thai cryptocurrency exchange Zipmex stopping withdrawals last week, local financial regulators are stepping in to look into potential losses by investors. Thailand’s Securities and Exchange Commission (SEC) is taking action to collect all necessary information from investors on how they have been affected by issues on Zipmex. The regulator officially
Former President Donald Trump has warned that the U.S. economy is facing “a much bigger problem than recession.” Noting that “We’ll have a depression,” he stressed: “We have to get this country going, or we’re going to have a serious problem.” Donald Trump on Economic Recession and Depression Former President Donald Trump warned Friday in