Day: June 22, 2022

US lawmaker lays out case for a digital dollar

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Connecticut House of Representatives member Jim Himes has released a proposal aiming to start a dialogue on the United States potentially launching a central bank digital currency, or CBDC. In a white paper released on Wednesday, Himes urged Congress to begin exploring the rollout of a digital dollar issued by the Federal Reserve to prevent the government from falling behind in innovations in financial technology. According to the U.S. lawmaker, a CBDC “should not be thought of as replacing legacy payment systems and currencies but as an additional alternative for…

dYdX moves to Cosmos-based blockchain for V4 to optimize decentralization and trading flow

On Thursday, crypto derivatives platform dYdX, which is currently built on Ethereum Layer 2, announced that it would be moving to a standalone blockchain based on the Cosmos SDK and Tendermint proof-of-stake consensus for its V4 update. The firm cites the Cosmos blockchain’s decentralization and performance as reasons for being a “best fit” for building dYdX for V4. Currently, the existing dYdX protocol processes about 10 trades per second and 1,000 order placements and cancellations per second, with the goal to scale to magnitudes higher. However, the firm says that…

US Fed Evaluating SEC’s Position on Digital Assets Custody, Powell Says

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Friday’s $2.25B Bitcoin options expiry might prove that $17.6K wasn’t BTC’s bottom

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Bitcoin (BTC) has been trying to break out of a descending trend for the past week and the first attempt on June 16 failed to break the $22,600 resistance. The second attempt at $21,400 on June 21 was followed by an 8% price correction. After two failed breakouts, the price currently trades below $20,000 and raises questions on whether $17,600 was really the bottom. Bitcoin/USD 4-hour chart at Coinbase. Source: TradingView The longer it takes for BTC to break from this bearish pattern, the stronger the resistance line becomes and…

Michael Saylor – "The COMING Crash Will DESTROY Your Wealth…" | Bitcoin News | Crypto Currencies

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Michael Saylor – “The COMING Crash Will DESTROY Your Wealth…” | Bitcoin News | Crypto Currencies ($) Michael Saylor is an American entrepreneur and the CEO of Microstrategy. He is one of the most well-known figures in the Bitcoin community, and in the news today. He knows everything there is to know about the current cycle, and selling Bitcoin. In the latest Bitcoin news, Saylor will give his update today. He’ll go over in this latest interview why he thinks Bitcoin is…

Bitcoin Miner Liquidations Threaten Bitcoin’s Recovery

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Bitcoin mining profitability has been dropping along with the market decline. The cash flow from the mining rigs has become increasingly stunted over time, causing bitcoin miners to begin selling their holdings to cover the cost of their operations. But even as this rages on, there is a bigger issue that could threaten the recovery that BTC has made so far, which is the fact that larger miners may be forced to liquidate their holdings. Bitcoin Miners Can’t Meet Up Usually, bitcoin miners are known for holding the coins that…

Coinbase Redesigns Mobile Wallet to Add Dapp Browser as Fees Come Under Pressure

CryptoX – Cryptocurrency Analysis and News Portal Coinbase also extended its support for the Solana ecosystem, adding the facility to send, receive and store SOL and Solana program library (SPL) tokens. Users will no longer need separate wallet apps for multichain activity across DeFi, NFTs and so on. Original Source The post Coinbase Redesigns Mobile Wallet to Add Dapp Browser as Fees Come Under Pressure appeared first on CryptoX. CryptoX Portal

eBay acquires KnownOrigin, expanding its foray into NFTs and blockchain

eBay, an e-commerce giant, has announced the acquisition KnownOrigin, a nonfungible token (NFT) marketplace that will help the e-commerce company foray further into the world of blockchain technology and digital collectibles. According to a press release on Wednesday, Manchester-based KnownOrigin has been purchased for an undisclosed amount. The firm enables artists and collectors to create, purchase and resell NFTs via blockchain-enabled transactions. KnownOrigin co-founder David Moore in a statement said that the company was founded to “empower creators and collectors by giving them the ability to showcase, sell and collect…

Ethereum dYdX Will Launch Standalone Blockchain On Cosmos

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Ethereum-based decentralized trading platform dYdX will be deployed as an independent blockchain on the Cosmos ecosystem. The team behind the project made the announcement this morning leading to a positive reaction for its governance token, DYDX. Related Reading | Bitcoin Steady Above $20K After Drop To $17K – A Slow Climb To Green? At the time of writing, this token trades at $1.50 with an 8% profit in the last 24 hours for its USDT trading pair and a 10% profit on its ETH trading pair. In the meantime, larger cryptocurrencies…