Day: March 8, 2023

Crypto Whale Driving Up the Price of Ethereum (ETH)-Based Altcoin As It Withdraws From Exchanges: Onchain-Data

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A single crypto whale likely drove up the price of an Ethereum (ETH)-based altcoin on Monday, according to the blockchain-tracking platform Lookonchain. Mask Network (MASK), a project that aims to bring Web3 features to social media platforms like Twitter and Facebook, shot up from trading around $3.26 at the beginning of the day on Monday to a high of $4.21, a more than 29% price increase. The 153rd-ranked crypto asset by market cap has since partially retraced and is trading at $3.74 at time of writing. Lookonchain reports that a…

Vitalik Buterin’s philanthropic fund donates 15M USDC to UC San Diego

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According to a Mar. 7 announcement from the University of California San Diego (UCSD), the post-secondary institution has received a 15 million USD Coin (USDC) donation from the Balvi Filantropic Fund. The foundation is currently directed by Ethereum (ETH) co-founder Vitalik Buterin and “is a scientific investment and direct gifting fund for deploying quickly to high-value COVID projects that traditional institutional or commercial funding sources tend to overlook.” As told by UCSD, the donation is the largest gift of its kind to a U.S. university and will be used to…

Bitcoin Price Edges Higher as Powell Softens Tone on Day 2 of Congressional Testimony

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Crypto Markets Explore Alternatives of Silvergate Exchange Network

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Silvergate Bank recently announced the closure of Silvergate Exchange Network (SEN), which facilitated off-blockchain money transfers between major investors and crypto exchanges. The decision was made due to concerns about Silvergate Capital Corp’s ability to continue as a “going concern.” With the discontinuation of SEN, analysts evaluate the network’s true value as a core part of the nascent crypto-markets infrastructure and explore alternative options, such as other blockchain firms or traditional banks, to fill the gap left by SEN. SEN enabled accounts to transfer money  at Silvergate instantly between each…

US President Joe Biden Wants to Increase Federal Pay by 5.7%

United States President Joe Biden is reportedly on track to propose a 5.7% increase to the salaries of Federal Government workers in the country. According to a report from the Washington Post, citing sources close to the plans, the increment will come off as the largest in more than 40 years. The last time a significantly higher increment was proposed and implemented was during the tenure of President Jimmy Carter. Times have changed since that time and the current reality in the US economy is that Federal staff wages have…

The FCA is Planning to Clamp Down on Unregistered Crypto-ATM’s in the UK – Blockchain News, Opinion, TV and Jobs

Katharine Wooller, Business Unit Director at Coincover Thinks the FCA is taking an incouraging step. She feels that the UK’s approach to regulation has been sluggish, so she thinks more proactivity to protect users is a positive step. “Trust in cryptocurrencies has collapsed once again following the FTX scandal. And if it’s not the collapse of trusted crypto brands, theft, hacking and fraud continue to drive consumer anxieties and scepticism of the entire market. The unfortunate reality is that digital assets remain vulnerable to abuse from a small pool of…

Bitcoin clings to $22K as US dollar strength rises to December levels — What’s next?

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Bitcoin (BTC) fell to three-week lows on March 8 as stronger-than-expected employment data from the United States dampened risk assets. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Employment stats boost Fed hawks, BTC price dips Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $21,858 on Bitstamp. The pair was attempting to preserve $22,000 as support at the time of writing, with traders’ downside targets still a way off at $21,300. “Bitcoin not showing the strength I initially wanted to see (slight bounce yesterday taking place),” Cointelegraph contributor…

Adidas Posts Poor Q4 2022 Results, Warns of Full-Year Loss Following Termination of Ye Deal

German apparel giant Adidas suffered heavy losses for Q4 2022 and looks to rebuild its business model throughout 2023.  Adidas AG recently released its Q4 2022 financial report, which revealed heavy losses sustained on several tiers. For the fourth quarter of last year, the German apparel giant suffered an operating loss of 724 million euros. In addition, the Bavaria-based multinational corporation also sustained a 482-million-euro net loss from continuing operations. Following the abysmal Q4 2022 performance, Adidas slashed its dividend and warned of its first annual loss in thirty-one years. During the last…