Day: April 8, 2022

Bitcoin plumbs April lows as US dollar strength hits highest since May 2020

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Bitcoin (BTC) neared new price lows for April on April 8’s Wall Street open amid a fresh surge in the U.S. dollar. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $43,000 hangs in the balance Data from Cointelegraph Markets Pro and TradingView captured another day of gloom for BTC bulls as the largest cryptocurrency slipped back under $43,000. In a classic move, BTC/USD reacted unfavorably to a resurgent dollar, with the U.S. dollar currency index (DXY) returning above 100 for the first time since May 2020. Coming on the back of tightening…

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NY State Supreme Court dismisses petition against crypto mining company

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In an important precedent, a Supreme Court judge in New York state’s Yates County ruled in favor of cryptocurrency mining firm Greenidge Generation, dismissing a petition filed by a coalition of environmental activists.  According to an Apr. 7 press release by Greenidge, judge Daniel Doyle dismissed a petition against the Greenidge Generation Holdings that a group of environmental organizations — Sierra Club, Seneca Lake Guardian, Committee to Preserve the Finger Lakes, as well as a number of individuals — brought in an attempt to stop the mining operation at Seneca…

Ethereum Gas Usage Rose in March as Ether Ran to $3.5K

CryptoX – Cryptocurrency Analysis and News Portal “Investors entered the accumulation stage from the second week of March and are watching the rise in prices of cryptocurrencies, so the cost of transactions at the end of March did not reach record levels, instead, only a correlation with the cost of Ethereum could be observed,” Lyu added in an email to CryptoX. Source The post Ethereum Gas Usage Rose in March as Ether Ran to $3.5K appeared first on CryptoX. CryptoX Portal

Treasury Secretary Yellen Says Crypto Regulation Should Support Responsible Innovation, Manage Risks – Regulation Bitcoin News

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Treasury Secretary Yellen says the regulatory frameworks for crypto assets in the U.S. should “support responsible innovation while managing risks.” She emphasized, “Regulation should be based on risks and activities, not specific technologies.” Treasury Secretary Yellen on Crypto Regulation U.S. Treasury Secretary Janet Yellen talked about crypto regulation Thursday at American University’s Kogod School of Business Center for Innovation. “Digital assets may be relatively new, but they are part of a larger trend – the digitization of finance – that has been in the making for decades,” she began. Yellen…

4 clever crypto scams to beware — Dubai OTC trader Amin Rad – Cointelegraph Magazine

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Aminhossein “Amin” Rad runs an over-the-counter trading desk in Dubai, United Arab Emirates. Searching for a business after dropping out of university, he started to style himself as a Bitcoin broker in 2016. Starting with his first deal after five months of wading through scammers and tire-kickers, Rad went on to found Crypto Desk, a business-to-business exchange that now deals millions of dollars of private crypto transactions among its 2,500 clients every day.  But why do people use OTC desks when centralized exchanges offer lower fees, and what dangers come…

A double-edged sword? Once-famous brands are getting into crypto

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There is no denying the fact that the crypto adoption wave sweeping the globe right now has resulted in a growing list of defunct brands making their way into the digital asset market in recent months.  Just two weeks ago, once popular music platform LimeWire announced that it is going to be making a comeback, albeit as a marketplace for nonfungible tokens (NFTs) rather than a file-sharing service.  LimeWire’s return seems to largely be hinging on its once-held brand power backed by the company’s belief that its early 2000’s fame…