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Month: March 2022
Biden’s Executive Order Calls for ‘Highest Urgency’ on CBDC Research and Development
There are several organizations already researching and piloting CBDCs in the United States, including the Boston Fed (which has partnered with Massachusetts Institute of Technology (MIT) on CBDC technology, and the Digital Dollar Project, a public-private partnership founded by consulting firm Accenture and Chris Giancarlo, the former chairman of the Commodity Futures Trading Commission (CFTC). Source
Crypto lobbyists up 180% since 2018, with Andrew Yang joining the charge
Lobbying by the cryptocurrency industry and crypto proponents is booming in the U.S. Congress. According to a report released Tuesday by Public Citizen, the number of lobbyists for cryptocurrency-related issues rose from 115 in 2018 to 320 in 2021, with the number of representatives of the cryptocurrency industry, itself, jumping from 47 to 157 in that time. In February, that chorus was joined by the somewhat unorthodox Lobby3, “a project to fund effective policy advocacy and educate lawmakers about the positive potential of Web3” that is the brainchild of former…
Here’s Why Russian-Issued MasterCard and Visa Cards Are Now Unusable on Binance Crypto Exchange
Crypto exchange Binance says that MasterCard and Visa cards issued in Russia cannot be used on its platform after the payments giants decided to suspend their operations in the sanction-hit country. In a statement, the exchange says that Russian-issued MasterCard and Visa cards will not work on Binance starting Wednesday, March 9th. “Effective Wednesday, 2022-03-09 21:00 UTC (Thursday, 2022-03-10 00:00 UTC+3) – due to recent decisions by Visa and Mastercard – all transactions initiated with Mastercard and Visa cards issued in Russia will be unavailable on Binance. In addition, all…
Bitcoin spoofs $40K breakout as US CPI inflation data conforms to 7.9% estimates
Bitcoin (BTC) turned back time to February on March 10 as the latest U.S. inflation data sparked a bout of volatility. BTC/USD 1-minute candle chart (Bitstamp). Source: TradingView Wheat gives Bitcoin a run for its money Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reacting strongly to February’s Consumer Price Index (CPI) readout. Despite matching forecasts at 7.9%, the print saw Bitcoin stage a smaller version of last month’s reaction, with a breakout above $40,000 followed immediately by a trip to 24-hour lows. At the time of writing, Bitcoin…
Crypto Prices Fall Lower as Markets Continue to Digest Biden’s Executive Order – Market Updates Bitcoin News
Less than 24 hours after U.S. President Biden’s executive order, cryptocurrency markets were back in the red, as the global market cap fell by over 5%. Bitcoin was once again trading below $40,000, with ETH hovering marginally above $2,500. Bitcoin As the smoke clears following yesterday’s executive order, crypto traders seem to be coming to terms with what this announcement could mean for the space long-term. The world’s largest cryptocurrency is currently down by over 7% on Thursday, wiping out all of yesterday’s gains. Following Wednesday’s peak of $42,465.67, BTC/USD…
US Inflation Rises to 7.9% in February, Fresh 4-Decade High
So-called core inflation, which excludes volatile food and energy prices, rose 0.5% in February, slower than analysts’ expectations. The core inflation rate was driven by increases in shelter prices as well as for recreation, household furnishings and airline fares. Source
What do Bitcoiners, politicians and financial experts think?
Rising prices are grabbing headlines all over the world. Across the pond in the United States, inflation recently broke a 40-year record. The situation is severe in Europe, with prices rising over 5% across the Eurozone and 4.9% in the United Kingdom. While prices rise, Bitcoin (BTC) is flatlining at around $39,000. It poses many questions: Is Bitcoin an effective hedge against rising prices, what role can Bitcoin play in a high inflation environment and did Bitcoiners know that inflation was coming? Experts from the world of Bitcoin, finance and even European…
Okcoin launches $165M collective investment to push Bitcoin adoption
Cryptocurrency exchange Okcoin, along with the Stacks Accelerator and Stacks Foundation, announced on Thursday the start of the “Bitcoin Odyssey,” a one-year commitment among investment firms to invest $165 million in inventive solutions to help drive Bitcoin (BTC) adoption. The Bitcoin Odyssey is funded by Digital Currency Group, GBV Capital, White Star Capital and GSR, among other organizations, to respond to the rise in interest in decentralized finance (DeFi) and new technological capabilities made possible with Stacks. Alex Chizhik, head of listings at Okcoin, and Kyle Ellicott, partner at Stacks…
Okcoin, Stacks Launch $165M Pledge to Support Bitcoin-Related Projects
The Bitcoin Odyssey is a year-long pledge taken by VC firms to deploy money into solutions that accelerate the adoption of bitcoin. Original