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Also Read: Former SEC Chief Harvey Pitt, Who Pushed For A Crypto Specific US Policy, Dies advertisement Irrespective of the global financial turmoil, some of the largest companies began adopting the web 3.0 world despite the lack of regulatory clarity. In August 2022, asset manager Blackrock has now launched a spot Bitcoin private trust while also stitching a partnership with US based crypto exchange Coinbase. Dedollarization Could Be Bullish For Bitcoin In a latest, Larry Fink, the chief executive officer of BlackRock, said the US is at heavy risk of having the pole position with regard to the Dollar being the reserve currency. While the market is expecting that the central bank cools down its monetary stance, rising inflation only forces the Fed to continue with policy tightening. “The United States is jeopardizing its reserve currency status with US debt ceiling drama. There will be pockets of problems, like commercial real estate.” ...

The SEC has started clamping down on crypto influencers, issuing several fines and cease and desist orders in the past few years. The United States Securities and Exchange Commission (SEC) is pursuing crypto influencers who have promoted scam projects and are found to be manipulating the price s of certain tokens via social media. Former SEC chief John Reed Stark took to Twitter to warn crypto influencers to be ready to face prosecution . Attention all crypto promoters who use social media to manipulate the price of crypto-securities: Fail not at your peril. Not only will you eventually get caught, but your prosecution will also be like shooting fish in a barrel. Whether manipulating the price of exchange… pic.twitter.com/AfKROIlR0N — John Reed Stark (@JohnReedStark) May 30, 2023 In his tweet, Stark called out social media crypto influencers who shilled numerous sketchy crypto projects and often helped them manipulate market prices during the bull run. He warned that for a...

Justin Bons, founder and CIO of Cyber Capital, has described Bitcoin as “fools’ gold”. According to Bons, the pioneer cryptocurrency has a broken long-term security model and lacks capacity, programmability, and composability. He further criticized the flagship crypto for having comparatively weak token economics, noting he abandoned BTC in 2017. 1/51) BTC is fools gold It has a broken long-term security model, lacks capacity, programmability & composability With comparatively weak token economics I abandoned BTC by 2017 Yet, I still believe in Bitcoin's original vision, which I first fell in love with back in 2013: — Justin Bons (@Justin_Bons) May 29, 2023 Bons continued with his BTC criticism by claiming the cryptocurrency has lost its competitive edge in terms of the numerous qualities that attracted early adopters. He noted that other cryptos have overtaken Bitcoin in several areas, including censorship resistance, immutability, decentralization, an...

In a recent warning to the crypto community, renowned entrepreneur Bobby Lee raised concerns about Hong Kong’s (HK) long-term commitment to crypto, casting doubt on the country’s digital asset ambitions. Lee, who experienced firsthand the disruptive effects of regulatory crackdowns in China, believes his story serves as a cautionary tale for firms lured by Hong Kong’s ambition to become a prominent digital-asset hub. Despite Hong Kong’s current efforts to introduce new regulations for the crypto sector, Lee suggests that the city may not sustain its focus on crypto in the long run. Notably, Lee pioneered China’s first Bitcoin (BTC) exchange, only to see it forced to close due to Beijing’s regulatory measures. Following the closure of his Chinese exchange, Lee went on to establish Ballet Global Inc., a crypto storage provider based in the United States. Given his experience in the crypto industry, Lee urges caution to firms enticed by Hong Kong’s apparent enthusiasm for ...

Bitcoin fundamentals are blasting ahead as May comes to an end, while traders remain torn over BTC price strength. Bitcoin (BTC) starts a new week in an altogether different mood as the weekly candle close brings a move higher. The largest cryptocurrency, still stuck in a narrow range, is at last showing signs of life after several spikes to two-month lows. With volatility back in play, traders nonetheless remain conflicted — can short-timeframe strength lead to an overall trend breakout? Opinions differ as May comes to an end, and brings with it a macroeconomic showdown, which is already making itself felt — the United States debt ceiling deal. With an agreement to raise the ceiling and avoid a U.S. government default almost here, risk assets may see relief across the board. Since stock markets are closed until May 30, however, it will be a game of “wait and see” for Bitcoin traders to start the week. BItcoin itself, of course, is always open, and the debt ceiling appears to have for...

Welcome to the 120th Weekend Shift! What’s the deal? Over the weekend, we’ll update this post with some of the most interesting articles, podcasts, charts, and opinion pieces we’re too busy to write about. OK, only Crypto ? Not necessarily. We do that Monday to Friday, so we try to explore new subjects on weekends. Feel free to join in and submit entries on Twitter. Any topic is fair game. 21 mins ago ️ Aussie banks ditch Binance The Crypto exchange has been hit by growing global concerns while China links are still hazy. Latest from @BennettTomlin Subscribe and read: https://t.co/IG3DsHVvBD pic.twitter.com/DrKlQCcvcH — Protos (@Protos) May 26, 2023 The Context. 21 mins ago Wake up babe – new set of SBF quotes dropped (not stolen from anywhere)https://t.co/IId6RQCuVk pic.twitter.com/my4DWOMg5y — pooredart (@poordart) May 27, 2023 17 mins ago Alex @Mashinsky’s recent ‘like.’ Apparently this tweet translates to: “Who is willing to f*ck me?...

The Kim Nam-guk Prevention Law comes in response to a scandal involving some National Assembly members moving large amounts of crypto. The South Korean government is moving forward with new laws to require officials to report on their holdings of cryptocurrencies like Bitcoin (BTC). South Korea’s National Assembly has unanimously passed a bill that obligates lawmakers and high-ranking public officials to report on their crypto assets. The lawmakers approved the new bill during a plenary session on May 25, the local news agency News1 reported. According to the report, the bill involved amendments to the National Assembly Act and the Public Service Ethics Act. The amendment to the National Assembly Act was unanimously passed with the support of 269 votes from 269 lawmakers present. The amendment to the Public Service Ethics Act received 268 votes from 268 lawmakers present. Passed on May 22, the amendment to the National Assembly Act officially places cryptocurrency in the list of reg...

The enthusiasm surrounding crypto currencies has undeniably grown in recent years. With a focus on regulations, countries worldwide have been embracing these digital assets. The COVID-19 pandemic played a significant role in increasing interest in the crypto industry as digitalization became more prominent. As a result, the past few years have been highly advantageous in terms of the adoption and popularity of crypto currencies like Bitcoin [BTC] and Shiba Inu [SHIB]. Sadly, this notion seems to be dying down. Global interest in cryptocurrency has experienced a notable decline. This metric reached levels that haven’t been seen since Dec. 2020, as indicated by data obtained from Google Trends. The recent data reveals a current score of 9 on May 25. This further corresponds to the levels observed in Nov. 2020. The particular period was characterized by minimal public engagement with the crypto space and marked one of the lowest points in terms of global interest in cryptocurrencies. ...

Also Read: Ripple Counsel Withdraws From Case; US SEC To Gain Upper Hand? advertisement Nvidia Stock Price Zooms By 25% As per the data, Nvidia Corp’s (NASDAQ: NVDA) stock price soared by a massive 30% in the pre market trading. Chip maker’s share price standing at $305.38 was valued to be around $394.12 in the same session. At the press time, its share is trading at an average price of $378 surging by 24% in the session. However, its price is up by 168% on the year to date basis. It is important to note that this whopping surge comes in amid the global financial crisis. However, the chip maker CEO Huang expects to have a giant record year. Data suggests that the firm forecasted $11 billion in sales for the three months ending in July. This is reportedly 50% more than what Walls Street previously estimated. Recommended Articles Crypto Presale P...

Also Read: Top Crypto Presale Projects For 2023 To Invest; Updated List advertisement On May 12, 2023, a bill was passed to propose to make it illegal under the Florida Uniform Commercial Code to treat any CBDC as a kind of legal tender. This essentially means Florida became the first state in the U.S. state to initiate legislative action against the implementation of CBDCs on its public. Why CBDCs Are Bad For The US Speaking in a Twitter Spaces that also had Billionaire Elon Musk in participation, the Florida Governor explained how the Biden government plans to weaponize the spending patterns of the people via surveillance of the CBDC s. In his initial remarks, DeSantis said Florida is the first state that said it does not recognize Central Bank Digital Currencies ( CBDC s). Quoting the US Federal Reserve’s stance on CBDC bill, the Governor said the Congress would not authorize the use of CBDC s. “I don’t think Congress would autho...

Dan Held, the chief marketing officer at Trust Machines, believes that rising Bitcoin transaction fees may encourage users to look at other layer-2 solutions. The recent Bitcoin 2023 conference in Miami, Florida brought together cryptocurrency enthusiasts and experts from around the world. Among them was Dan Held, a Bitcoin (BTC) educator and the chief marketing officer at Trust Machines, who shared his insights on the current state of Bitcoin and its prospects.  In an interview with Cointelegraph’s Joe Hall, Held touched upon various topics, including transaction fees, scaling solutions and the evolving narrative around Bitcoin as a means of payment. One of the significant concerns discussed was the recent spike in BTC transaction fees and its impact on the community. Joe Hall with Dan Held at the Bitcoin 2023 conference in Miami, Florida. Source: Cointelegraph Held emphasized that the increased fees were driven by growing demand for Bitcoin’s block space — particularly due to the ...

Join Our Telegram channel to stay up to date on breaking news coverage Marathon Digital Holdings, a leading Bitcoin mining company, made a significant announcement during the Bitcoin 2023 conference in Miami, Florida. The company made a clear declaration of its dedication to offering financial assistance for the advancement and upkeep of Bitcoin Core, the open-source client software that drives the leading blockchain network worldwide. In order to strengthen the funding landscape for Bitcoin development, Marathon pledged to match donations to Brink, a non-profit Bitcoin research and development firm, up to $500,000 on a two-for-one basis. Fred Thiel, CEO of Marathon Digital Holdings, emphasized the importance of compensating Bitcoin Core developers, who often rely on grants to fund their work. Thiel highlighted the significance of this funding initiative, as developers typically operate out of their own pockets. Marathon aims to encourage other industry partners to contribut...