Month: May 2022

Fear & Greed Index hits lowest since March 2020 even as Bitcoin price hits $30.5K

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Bitcoin (BTC) returned to $30,500 on May 17 amid hopes that a retest of 2017 highs could be avoided. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $20,000 retest ‘highly unlikely’ Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing after the daily close to tentatively build on $30,000. Still, in a multi-day range, the pair was yet to decide on a meaningful upward or downward trajectory, while volatility ebbed into the new week. Amid concerns that a major retracement could take it below last week’s ten-month lows, popular analyst Credible…

Amidst the Mounting Risks to Bridge Security, A New Non-custodial Liquidity Bridge Focuses on Decentralization

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In late March, Ronin bridge, an Ethereum sidechain built for the widely popular play-to-earn (P2E) NFT game Axie Infinity to handle surging demand from gamers, was hacked for over 173,600 Ether (ETH) and 25.5 million USD — a combined value of over $600 million. The company’s official report regarding the hack noted that the hackers managed to get access to validator nodes, which resulted in the compromise of five validator nodes, a threshold also required to approve a transaction. Currently, the Ronin chain consists of nine validator nodes, and the…

China returns as 2nd top Bitcoin mining hub despite the crypto ban

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The Chinese government has not managed to take down cryptocurrency operations as part of its crypto ban last year as China has re-emerged as one of the world’s largest Bitcoin (BTC) mining hubs, according to a new report. China became the second-largest Bitcoin hash rate provider as of January 2022, months after the local government banned all crypto operations in the country, according to the latest update from the Cambridge Bitcoin Electricity Consumption Index (CBECI) shared with Cointelegraph on Tuesday. Bitcoin miners in China accounted for 21.1% of the total global…

I've used the Coinbase Card for 6 Months now and Here's What I Found | 6 Month Review | Deep Dive

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io I switched everything over to the Coinbase Card and now its been 6 months! In this video we cover how much we earned in rewards, best way to use the Coinbase Card, pros & cons, and common questions people have. Don’t forget to use the referral codes! Celsius: Your Home for Crypto Join Celsius Network using my referral code 10331994f3 when signing up and earn $50 in Bitcoin with your first transfer of $400 or more! #UnbankYourself Coinbase: Click this link to…

RBI warns of crypto ‘dollarization’ of Indian economy

Officials from the Reserve Bank of India (RBI) have reportedly sounded the alarm bells again over crypto adoption, which they claim will ultimately lead to the “dollarization” of the local economy. According to a Monday report from the Indian branch of the Economic Times — which cited unnamed sources — the RBI’s concerns are focused on U.S. dollar-dominated cryptocurrencies taking away market share from the Indian rupee. The publication notes that RBI officials, along with its governor Shaktikanta Das, provided a briefing to the Parliamentary Standing Committee on Finance this…

RBI warns of crypto ‘dollarization’ of Indian economy

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Officials from the Reserve Bank of India (RBI) have reportedly sounded the alarm bells again over crypto adoption which they claim will ultimately lead to the “dollarization” of the local economy. According to a May 16 report from the Indian branch of the Economic Times — which cited unnamed sources — the RBI’s concerns are focused on U.S. dollar-dominated cryptocurrencies taking away market share from the Indian rupee. The publication notes that RBI officials, along with its governor Shaktikanta Das, provided a briefing to the Parliamentary Standing Committee on Finance…

Portugal to Tax Cryptocurrency Income According to Minister of Finance – News Bitcoin News

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Portugal, one of the countries considered a crypto tax haven due to its absence of crypto-related taxation, is preparing to change this policy. Fernando Medina, minister of finance of Portugal, stated that the country is working on a framework to allow the taxation of cryptocurrency income gains following the principles of “justice” and “efficiency,” and declared that there cannot be gaps for any income gains to be obtained without taxation. Portugal to Tighten Cryptocurrency Taxation Policy Portugal, one of the countries that has been touted as a crypto…

Twitch co-founder raises $24M for Web3 gaming firm Metatheory

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Web3 gaming and entertainment company Metatheory founded by Twitch co-founder Kevin Lin has raised $24 million in a Series A funding round on Monday. The round was led by crypto capital venture firm Andreessen Horowitz (a16z), with participation from Pantera Capital, the venture arm of the FTX cryptocurrency exchange, FTX Ventures, and other venture firms, according to the announcement. Metatheory was launched in November 2021 around one year after Lin left Twitch, where he wrote in a Medium article at the time that he was creating the gaming company and also…

El Salvador Adopted Bitcoin As A National Currency. Here’s How It’s Going.

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io It’s been seven months since El Salvador President Nayib Bukele declared bitcoin as a national currency, but so far, the country has seen confusion, glitchy transactions and fluctuating prices that have left most Salvadorans slow to adopt. NBC News’ Gadi Schwartz has a closer look.» Subscribe to NBC News: » Watch more NBC video: NBC News Digital is a collection of innovative and powerful news brands that deliver compelling, diverse and engaging news stories. NBC News Digital features NBCNews.com, MSNBC.com, TODAY.com, Nightly…