Day: March 21, 2023

Why is Bitcoin rising amid collapsing banks? Watch The Market Report

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This week on The Market Report, our beloved host, Joe Hall, and insightful expert, Sam Bourgi, unfortunately, could not make it, but don’t worry because Marcel Pechman is here to discuss why he thinks Bitcoin’s (BTC) price is rising amid collapsing banks. We kick things off with this week’s first article: UBS Group agrees to $3.25B “emergency rescue” of Credit Suisse UBS Group agreed to buy its ailing competitor Credit Suisse for $3.25 billion on March 19 as part of an “emergency ordinance” to prevent financial market instability. To close the deal, Swiss…

Bitcoin Network Preps for Another Difficulty Spike as Hashrate Remains Strong and Miners Profit Amid Price Surge – Mining Bitcoin News

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Following the last two difficulty increases on the Bitcoin network, another rise in difficulty is expected to take place on March 24, 2023. Statistics show that Bitcoin’s hashrate has remained high despite the last two adjustments, and block times have been faster than the ten-minute average. Bitcoin Difficulty Expected to Rise Following the Past Two Consecutive Increases At the time of writing, Bitcoin’s difficulty is at an all-time high of 43.55 trillion, and the network’s hashrate remains above the 300 exahash per second (EH/s) range at 319.86 EH/s. Bitcoin has…

Anonymous DAO tomi raises $40M for ‘surveillance-free’ internet

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Alternative internet developer tomi has raised $40 million from venture capital firms as part of a broader effort to lure content creators to its decentralized World Wide Web alternative.  The funding round was led by venture firms DWF Labs, Ticker Capital and Piha Equities, as well as Japanese crypto investor Hirokado Kohji, tomi announced on March 21. The funding will be used by tomi to attract publishers and further develop its network, which is described as a “surveillance-free alternative” to the internet. The tomi project launched in 2022 as a…

Turkish Crypto Startup Metatime Pulls $11M in New Funding

When it finally goes live, Metatime will be competing with the likes of established crypto exchanges serving the Turkish community including Coinbase-linked BtcTurk, Bitay, and Paribu amongst others. Turkish digital currency startup Metatime has raised the sum of $11 million in a new funding round as it looks to double down on protocol development. As reported by The Block, the funding round took place in two token sale rounds with some of the biggest investors from Turkey, Denmark, and Germany participating. Turkey’s investment firm Yildiz Tekno GSYO took part in…

DMCC Enters Partnership with Enya Labs and Boba Network to Strengthen Its Global Crypto Network

UAE’s largest free-trade zone DMCC recently struck a partnership with Enya Labs to enhance its DMCC Crypto Center further.  Leading decentralized infrastructure solutions developer Enya Labs has entered a partnership with Dubai Multi Commodities Center (DMCC). The collaboration between the Boba Network core contributor and DMCC seeks to further consolidate the latter’s crypto center ecosystem. By significantly supporting Boba-leveraged Web3 and blockchain business growth in Dubai, the Enya Labs and DMCC partnership could enable smarter applications. Boba Network is the only hybrid blockchain capable of delivering off-chain data and computing.…

XRP Hits 2-Month High, Despite Crypto Consolidation – Market Updates Bitcoin News

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Xrp rose to a two-month high on March 21, despite crypto markets mostly consolidating in today’s session. The token surged by as much as 12% on Tuesday, whilst the global market cap is trading 0.51% higher as of writing. Cardano was also in the green today. XRP, formerly ripple, was one of Tuesday’s biggest movers, as prices rose by as much as 12%. XRP/USD hit an intraday peak of $0.4283 earlier in today’s session, a day after trading at a low of $0.374. As a result of Tuesday’s move, xrp…

Caitlin Long says bitcoin works as insurance amid ongoing bank runs

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Caitlin Long, the CEO of Custodia bank, said in a recent interview with CNBC that investing in bitcoin (BTC) is an insurance policy given its incredible performance amidst an ongoing bank crisis.  In the interview, Long said that although she could not make a price prediction like Balaji Srinisavan, who said that BTC would hit $1 million in 90 days, she agrees more people are waking up to the instability of the traditional financial system and are looking to bitcoin. Long said that BTC is bullish because stablecoins are losing…

IRS Seeks to Tax NFTs Like Other Collectibles

The U.S. Internal Revenue Service is considering whether to tax non-fungible tokens (NFTs) on a par with other collectibles such as stamps, works of art and fine wine, in a move likely to have an impact on those including the digital assets within their retirement plan, according to a document published Tuesday. Source CollectiblesIRSNFTsSeeksTax CryptoX Portal

Congressional privacy proposals could kill scores of blockchain projects

With public trust in large tech companies at an all-time low, Congress is once again considering comprehensive data privacy legislation. But the rise of blockchain technologies and the nascent decentralized web mean that these comprehensive proposals are already behind the times. Without major revisions, these legislative proposals risk strangling decentralizing technologies in the cradle.  The 118th Congress has held many hearings on data privacy, and it is crucial that lawmakers consider how their proposals might impact technological innovation. In order to properly balance conflicts between individuals’ right to control their…