Month: February 2023

Crypto bank Silvergate ranks as the second most-shorted stock on Wall Street

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Crypto bank Silvergate Capital Corp. stands in the second position as most-shorted stock in the United States, with over 72.5% of its shares shorted, according to the latest Short Interest Reporting from Feb. 9.  The Financial Industry Regulatory Authority (FINRA) collects and publishes twice a month short interest positions of all equity securities. A short position means investors and traders believe the price of a security, such as a stock, will decrease in value. A short seller profits from the price decline of a security. At the time of writing,…

Russia Releases Bitzlato Co-Founder Anton Shkurenko After Questioning – Exchanges Bitcoin News

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Russian authorities have released the recently arrested co-founder of crypto exchange Bitzlato, said to have processed illicit funds worth millions of U.S. dollars. Anton Shkurenko, who was questioned in Moscow, denies the French charges against him that became the reason for his brief detention. Shkurenko Says Potential Case Against Him in Russia Won’t Interfere With Bitzlato Relaunch Russian prosecutors have asked France to send materials from its investigation into the seized digital asset exchange Bitzlato in order to determine whether to initiate additional proceedings in Russia, the platform’s co-founder Anton…

Shopify Launches Blockchain Commerce Tools to Enhance User Experience

E-commerce giant Shopify, which is crypto-friendly, has released a suite of blockchain commerce tools with the intention of improving the customer experience of its Web3-focused businesses that are housed on the platform. Particularly noted are the improved functionality for connecting crypto wallets and the “tokengating” application programming interface (API) tools. The latter was previously exclusively accessible to a limited number of retailers until it entered early access beta access mode in June 2022. Through the use of tokengating, relevant Shopify merchants now have the ability to build up their businesses…

Deposit Coins May Be the Best Blockchain Option for Commercial Banking

JPMorgan Chase and Oliver Wyman, which is a corporation that specializes in consulting, worked together to do research on the potential applications of blockchain technology in commercial banking. The subsequent steps were for the two businesses to publish their findings in a report on February 9th, which was then made available to the entire public. On the other hand, the writers make it a point to underline the advantages given by deposit coins in terms of their dependability and stability. They say this as a point of differentiation between deposit…

House Republicans Demand Answers From SEC Over FTX Co-Founder’s Arrest – Bitcoin News

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On Feb. 10, 2023, Republicans Patrick McHenry of North Carolina and Bill Huizenga of Michigan, both members of the U.S. House of Representatives, sent a letter to Securities and Exchange Commission (SEC) chairman Gary Gensler seeking answers about the arrest of FTX co-founder Sam Bankman-Fried prior to his scheduled testimony before the House Financial Services Committee. McHenry and Huizenga assert that the timing of Bankman-Fried’s charges and arrest raises “serious questions about the SEC’s process and cooperation with the Department of Justice.” House Representatives McHenry and Huizenga Probe SEC Over…

Public miners increased Bitcoin production, hash rate in January

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The first production update of 2023 from publicly listed Bitcoin (BTC) mining companies shows a steady increase in hash rate and a surge in BTC production compared to the previous month, according to a new analysis from Hashrate Index.  The majority of public miners increased their bitcoin production in January, with CleanSpark boosting it by 50%, reaching a record monthly production of 697 Bitcoins. Leading the BTC production, Core Scientific reached 1,527 coins mined in January, followed by Riot, the second-biggest producer, mining 740 Bitcoins in the month. Marathon and…

Bitcoin Network Experiences Slight Dip in Difficulty After Record High – Mining Bitcoin News

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Bitcoin’s difficulty decreased 0.49% on Feb. 12, 2023, following a sustained all-time high of 39.35 trillion over the previous two weeks (2,016 blocks). The decrease in difficulty offers a brief respite for bitcoin miners, after the network recorded a 14.94% increase in the last month. Bitcoin Difficulty Drops 0.49% Lower; Top Five Mining Pools Continue to Command Majority of Global Hashrate At the time of writing, Bitcoin’s hashrate is coasting along at 289.14 exahash per second (EH/s) after a 0.49% decrease in difficulty at block height 776,160. The network difficulty…

Monetary policy: Definition, types and tools

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What is monetary policy? Monetary policy refers to the actions taken by a central bank or monetary authority to manage the supply of money and interest rates in an economy, with the aim of promoting economic growth and stability. To affect the price and accessibility of credit, this may entail altering the money supply, setting interest rates or utilizing other instruments.  The ultimate goal of monetary policy is to achieve and maintain a healthy economy. This usually involves balancing multiple objectives, such as: To ensure economic stability, lessen the effects…

Ark Invest on $1.4M BTC, Possible Julian Assange-Linked File on Bitcoin Blockchain — Week in Review – The Weekly Bitcoin News

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Investment management firm Ark Invest has offered three bitcoin price predictions in a new report, including a bull scenario where bitcoin could reach $1.48 million per coin. In other news, a 7zip file possibly linked to activist Julian Assange was reportedly discovered in the Bitcoin blockchain, and billionaire investor Tim Draper has encouraged the government of Sri Lanka to adopt bitcoin. This and more, just below, in the latest Bitcoin.com News Week in Review. Ark Invest Expects Bitcoin to Become a Multitrillion-Dollar Market — Predicts BTC Price Could Reach $1.48…