Bitcoin moved below $28,000 on Thursday, as markets reacted to the latest Federal Reserve interest rate hike. The Fed opted to increase rates by 25 basis points (bps) as many had anticipated, and signal one more hike this year. Ethereum was also lower on the news, falling below $1,800. Bitcoin Bitcoin (BTC) dropped below $28,000
Month: March 2023
Australia-based crypto exchange Independent Reserve is looking at opportunities to set up shop in Hong Kong, as the city continues efforts to become a cryptocurrency hub. Set to take effect in June, the Hong Kong Securities and Futures Commission (SFC) released a proposed licensing regime for cryptocurrency exchanges on Feb. 20 in line with its
Cardano (ADA) rallied to its best price level in a month as cryptocurrency investors prepared for the Federal Reserve’s looming interest rate decision. Fed boosts appetite for cryptos like ADA On March 22, ADA’s price surged by as much as 4.58% to $0.388, its highest level since Feb. 24. This bucked the trend as the total
American venture capital investor and entrepreneur Tim Draper took the master stage at Paris Blockchain Week 2023 to give his keynote speech on, “The Decentralization of Everything” which he ended with a self-composed Bitcoin song. The speech opened by touching on the general distrust of cryptocurrencies – primarily Bitcoin (BTC) – from centralized governments. “I
MetaMask Institutional is set to be an avenue for the creation of new Ethereum (ETH) validators after announcing a new staking marketplace for its institutional clients. Institutions that make use of MetaMask’s institutional-grade wallet and custody service will be able to manage ETH staking through four vendors, including ConsenSys Staking, Allnodes, Blockdaemon and Kiln. The
U.S. Senator Ted Cruz has introduced “legislation to prohibit the Federal Reserve from developing a direct-to-consumer” central bank digital currency (CBDC). The lawmaker warned that it “could be used as a financial surveillance tool by the federal government.” Another senator stressed: “The American people ought to be able to spend their money how they choose
United States Federal Reserve chairman Jerome Powell has conceded that his regulator was blindsided by the sudden collapse of Silicon Valley Bank (SVB), despite it being under their watch. In a press conference held just after the Federal Open Market Committee meeting on March 22, Powell said he immediately knew there was a need for
Arbitrum developers announced an airdrop of its governance token, ARB, to eligible users and DAOs on the Ethereum Layer-2 platform. An average user received around 625 ARB tokens, which corresponds to around $625 to $1,250, according to pre-launch trading prices and popular estimations. The prospect of earning free money has instilled excitement around users looking
Bitcoin (BTC) saw heavy volatility on March 22 as the United States Federal Reserve hinted that it may stop interest rate hikes. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Powell on rates: “‘May’ and ‘some’ instead of ‘ongoing'” Data from Cointelegraph Markets Pro and TradingView showed sharp moves both up and down for BTC/USD as the
Ether’s price (ETH) reached $1,400 on March 10, which proved to be a bargain as the cryptocurrency rallied 27.1% until March 21, at the time of writing. However, the three reasons that supported the price gain, including correlation with tech stocks, its increasing total value locked and its deflationary token economics, all suggest that the
The U.S. Securities and Exchange Commission (SEC) has taken action against Justin Sun, the founder of Tron, and the Tron Foundation, issuing charges for offering unregistered securities and market manipulation. Additionally, a group of influencers have been charged by the organization for promoting tron without disclosing that they were being compensated for their endorsements. Tron
United States Senators Elizabeth Warren and Ron Wyden have cited the recent collapse of three major banks to call on the Public Company Accounting Oversight Board to “rein in” audits of crypto firms. In a March 21 letter to Public Company Accounting Oversight Board chair Erica Williams, Warren and Wyden reiterated concerns over “shady audits”
Bitcoin (BTC) has been sustaining above the $25,000 level for the past few days, increasing the likelihood that the bear market may have ended. Generally, in the initial stages of a new bull phase, several analysts remain in a state of disbelief and expect the resumption of the downtrend. Another group of traders continue to
The first day of Paris Blockchain Week (PBW) is bringing more thoughts on the ongoing crisis in the global banking system, with industry executives comparing the collapses of major cryptocurrency firms like FTX with the fall of banks like Silicon Valley Bank (SVB). On March 22, PBW hosted a panel discussion titled “FTX, Luna, Celsius,
New York’s Emily Xie is exploring the new frontier of digital art by combining her skills and passion for computer science and generative art. In a little under two years, since she minted her first NFT in March 2021, she has caught the attention of prolific collectors, such as Punk6529, DC Investor and Bob Loukas,
Regulators and industry players highlighted a number of implications and potential impacts of the European Union’s Markets in Crypto-Assets (MiCA) regulation at the Paris Blockchain Week 2023. A panel titled ‘MiCA: How is the EU Regulating Crypto?’ delved into the proposed MiCA regulation which is expected to take effect in 2024. The 400-page regulatory guideline
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