EOS Foundation CEO: ‘EOS as It Stands Is a Failure’

At a virtual event on Wednesday, EOS Foundation CEO Yves La Rose claimed that “EOS as it stands is a failure,” according to a transcript of prepared remarks viewed by CoinDesk. In the speech, Rose weighed in on the past and future of the EOS blockchain protocol, saying that the project’s native currency, EOS, has been “a terrible investment.” The speech places much of the blame on backer and former developer Block.one, and says that the EOS Foundation is set to step up, as the project can “no longer rely…

$1.75 Trillion for Climate Change, Social Services — Biden’s ‘Build Back Better’ Plan Advances While Inflation Grips US – Economics Bitcoin News

This week, U.S. lawmakers are preparing to debate the advance of Joe Biden’s Build Back Better proposal, which is now estimated at $1.75 trillion. The new proposal follows the expansive monetary policy the Federal Reserve engaged in during the last two years expanding the money supply like never before. Meanwhile, U.S. inflation is at a 30 year high and the central bank’s Federal Open Market Committee (FOMC) plans to assess new strategies today. Biden Slims Down ‘Build Back Better’ Plan Last week, U.S. president Joe Biden offered a slimmed-down “Build…

Data shows Polkadot crashes after reaching $1B open interest — Will it happen again?

Whenever there is relevant growth in the number of derivatives contracts currently in play (open interest), it usually means that more traders are involved. In futures markets, longs and shorts are balanced at all times, but having a larger number of active contracts allows the participation of institutional investors that require a minimum market size. However, in Polkadot’s (DOT) case, price crashes have often been anticipated by this indicator breaking the $1 billion mark. Polkadot price in USD at Bitfinex. Source: TradingView The April 17 crash happened after DOT reached…

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EOS community ramps up battle for organization control against former developer Block.one

Members of the EOS ecosystem, a blockchain designed to power decentralized applications, or dApps, are voicing their dissatisfaction with former developer Block.one. As a result, they have formed their own organization and elected new leadership in an effort to revamp the network. As accessed by Cryptox, Yves La Rose, the “community-elected CEO” of the novel EOS Foundation, gave the following prepared statement during a virtual conference: “There’s no sugar-coating it, EOS as it stands is a failure. The last three years or so have been nothing but dwindling in terms…

Kraken Plans To Offer Stock Trading and Other Traditional Financial Services, According to Crypto Exchange’s CEO

The CEO of Kraken is saying that the cryptocurrency exchange will expand the range of products and services it offers. In a CNBC interview, Jesse Powell says that Kraken is branching out into products and services generally associated with legacy financial institutions.   “We’re getting more into traditional financial services such as stock trading, banking services, maybe even small loans at some point.” The Kraken CEO says that their main focus will remain crypto-related products and services. “That’s sort of a smaller project. We’re really experts at the cryptocurrency business.…

Marathon Digital stock reaches 6-year high as company HODLs $460M Bitcoin

United States-based crypto mining company Marathon Digital Holdings holds more than $460 million in Bitcoin (BTC), mainly from mining and purchases since last year. According to a Tuesday report, the mining firm said it had been HODLing all Bitcoin generated from its mining operations — roughly 2,640 BTC — since its last sale in October 2020. In addition, Marathon Digital purchased more than 4,812 BTC in January when the price of the crypto asset was under $35,000. At the time of publication, the BTC price is $62,056, giving the mining firm’s…

US senator submits resolution to allow crypto payments in Capitol Complex

United States Senator Ted Cruz of Texas submitted a resolution on the Senate floor Monday that would require the acceptance of cryptocurrency payments at all gift shops, restaurants and vending machines located within the Capitol Complex. The resolution, titled Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions, or ACCEPT, also prohibits the Architect of the Capitol — a presidential appointee who oversees the administration of the Capitol Complex — from entering into contracts that preclude the use of cryptocurrency as a form of payment provided that they “are…