Day: March 21, 2023

Web3 a hot topic at SXSW despite bear market and declining interest in NFTs

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Giant rabbits wearing trendy outfits situated alongside cartoon characters with rainbows flowing out of their mouths lined the streets of South by Southwest (SXSW) last year. This is because two nonfungible token (NFT) projects — Doodles and Fluf World — dominated SXSW 2022.  Yet these projects were nowhere to be found at SXSW 2023, demonstrating the lack of interest in NFTs this year. This shouldn’t come as a surprise, though. With crypto prices down, coupled with declining NFT prices and trading volumes, very few projects seem to be focused on…

US Officials Reportedly Studying Ways to Guarantee Bank Deposits of $17 Trillion amid Crisis

The FDIC and Fed are looking for ways the US government can guarantee all bank deposits amounting to $17 trillion should the financial turmoil worsen. The US government is considering ways to guarantee bank deposits if the current banking crisis worsens. According to reports, the Federal Deposit Insurance Corporation (FDIC) and Federal Reserve are exploring a potential guarantee of all US bank deposits. Officials from both parastatals embarked on this scheme on advice from a banking coalition that deemed it necessary to avert a financial crisis. This development could also mean that the FDIC…

BTC Consolidates, Ahead of Pivotal FOMC Meeting – Market Updates Bitcoin News

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Bitcoin consolidated recent gains on March 21, as markets await the upcoming Federal Open Market Committee (FOMC) meeting. Many expect that the Federal Reserve will maintain rate hikes, however at a slower pace of 25 basis points. This comes after the U.S. announced it will explore measures to guarantee client deposits at embattled banks following a recent crisis. Bitcoin Bitcoin (BTC) was once again trading below $28,000, as traders consolidated recent gains ahead of the upcoming FOMC meeting. Following a high of $28,352.76 to start the week, BTC/USD fell to…

Zilliqa (ZIL) to Launch Full EVM Compatibility by April as Token Price Falls 5%

Zilliqa believes that launching EVM fully would help bolster its ecosystem and expose it to the wider blockchain developer community. Zilliqa, a high-throughput blockchain platform, has revealed plans to launch full EVM compatibility on its mainnet this year. This follows after the platform’s earlier launch of EVM on the Zilliqa testnet last December. According to a recent blog post, the release is slated to take place on April 25th, 2023. Zilliqa to Use EVM Compatibility for Expansion of Ecosystem EVM (Ethereum Virtual Machine) is the backbone of the Ethereum blockchain.…

Adam Cochran calls Balaji’s $1m bitcoin goal impossible

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Prominent crypto expert Adam Cochran recently expressed on Twitter his dissatisfaction with the audacious forecast for bitcoin (BTC) by former Coinbase executive Balaji Srinivasan. According to Cochran, renowned for his views on crypto market action, Balaji’s grandiose $1 million estimate for BTC within the next 90 days is unlikely. 1/25 Let’s breakdown @balajis $1M Bitcoin bet. And why I’d comfortably bet against it. — Adam Cochran (adamscochran.eth) (@adamscochran) March 18, 2023 Bitcoin’s 3,600% pumping requires a catalyst Balaji Srinivasan, a former executive of Coinbase, staked a wager on March 17…

Bitcoin Holds Steady at $28K Before Fed Meeting

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After surpassing $28,000 for the first time in nine months, bitcoin has been trading in a tight range between $27,300 and $28,350 over the past 24 hours, as investors await a decision by the Federal Reserve on interest rates on Wednesday. Traders are predicting a 25 basis point increase. The world’s largest cryptocurrency appears to be stalling at about $28,000. Swissblock Insights wrote in a report that the market appears to be betting on a 0.25 percentage point rate hike. “If the Fed proceeds to raise rates, the market shouldn’t…

GoTo Gojek Records $2.63B Net Loss for 2022 Financial Year, Stock Up 1.85% Today

GoTo hopes to achieve positive Group adjusted EBITDA1 within the fourth quarter of 2023 while also reaching a full-year 2023 Group adjusted EBITDA1 to be between Rp 5.3 to Rp 4.6 trillion. Investors of Indonesia’s top tech giant GoTo Gojek Tokopedia PT Tbk (IDX: GOTO)are expressing mixed reactions to the recent performance report from the company which shows annual losses for the 2022 Financial Year widened. According to the details shared by the company, it recorded a loss of 40.4 trillion Indonesian rupiah ($2.63 billion) in what comes off as…

Google Suspends China’s Pinduoduo App from Play Store Citing Malware Issues

The Pinduoduo app serves more than 700 million people every month. Google has no word on when it will get the app back on the Play Store. On Tuesday, March 21, tech giant Google announced the suspension of the Chinese e-commerce app Pinduoduo citing that they discovered malware in the unsanctioned versions of the software. Google Suspends Pinduoduo App As a security precaution, the Play Store version of Pinduoduo is no longer available for download. This development comes at a time when American lawmakers have accused Chinese-owned apps such as…