Day: March 23, 2023

Sushi DAO to Set up Defense Legal Defense Fund; Project Receives Unspecified US SEC Subpoena – Defi Bitcoin News

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Sushi, the Web3 exchange that pivoted into a decentralized autonomous organization (DAO), is seeking to organize a legal defense fund. If approved, the proposal, which already is available for voting, will put $3 million USDT as part of a fund to defend itself from legal actions against the organization and its members. The organization disclosed it had recently received a subpoena from the U.S. Securities and Exchange Commission (SEC). Sushi DAO Presents Proposal to Establish Legal Defense Fund Sushi DAO, a Web3 exchange and staking platform, is seeking…

Bitcoin (BTC) Could Touch New All-Time High of $100,000 This Year

Some crypto industry insiders believe that BTC price can surge to its previous all-time high of $69,000 and even beyond to $100,000. The world’s largest cryptocurrency Bitcoin (BTC) has already delivered a solid performance this year so far outperforming all other asset classes by a considerable margin. Currently, Bitcoin is trading at $27,708 with a market cap of $535 billion. At this current price, the BTC price is up already 70% from January 1, 2023. The fact that this Bitcoin performance comes despite cracks in the global banking system is…

Swiss National Bank Raises Interest Rate by 50 Basis Points amid Banking Crisis

According to the Swiss National Bank, additional interest rate hikes should not be ruled out in the mid to long term. The apex bank of Switzerland, the Swiss National Bank (SNB) has announced its latest interest rate hike by 50 basis points or 0.5%. According to the press release published by the SNB earlier today, the benchmark interest rate is now pegged at 1.5% in what the regulator tagged as its attempt to stem the soaring inflation rate. “The SNB is tightening its monetary policy further and is raising the…

France to Ban Influencers from Promoting Crypto Products and Services

Those violating the law could be sentenced to up to two years in jail as well as a fine of 30,000 euros, in addition to losing their social media accounts. On Wednesday, The French National Assembly’s Economic Affairs Committee addressed crypto-related advertisements and promotions in France made by social media influencers. It was agreed that such activities should be banned in order to protect consumers from potential risks. The proposal has been added to Bill no. 790 which aims to combat scams and “excess” information shared by influencers on social media…

Next Evolution of BlockChain Software Has Only Just Started: Bank of America

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Next Evolution of Blockchain Software Has Only Just Begun: Bank of America

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…

Bitcoin Miners’ Revenue From Fees Rises Suggesting the Onset of Major Bull Run

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Fees are a function of transaction size and network volumes (how congested the network is). Transactions are processed in blocks, storing up to 1MB of data. Hence, a sudden spike in activity often leads to network congestion – transactions waiting to get verified. In such situations, miners target transactions with higher fees first. In other words, the more a user offers in fees, the faster their transaction is likely to be verified. Original

JPMorgan to Acquire Leading Data Platform Aumni in Venture Capital Service Push

Financial powerhouse JPMorgan will acquire Aumni for the data platform’s value at its last fundraising in 2021.  Banking giant JPMorgan appears set to acquire leading venture and private markets investment data platform Aumni. Yesterday, the New York-based multinational financial services company announced a definitive purchase agreement with Aumni. Although JPMorgan did not disclose financial terms, the bank expects to pay the data platform’s value at its last fundraising in 2021. This implies that JPMorgan could fork out around $232 million for Aumni. Furthermore, the banking powerhouse expects to wrap up the acquisition in…

Tencent Shares Up 8% after Report of Online Ad Revenue Growth in Q4 2022

As a high-growth-oriented company, Tencent is charting a very ambitious path to grow its revenue over time. Chinese multinational tech giant Tencent Holdings Ltd (HKG: 0700) has released its fourth-quarter earnings report in which it showed a better-than-expected online ad revenue. According to the firm’s report, its overall revenue for the fourth quarter came in at 144.95 billion yuan ($21.07 billion), a figure higher than the 143.89 billion yuan estimated by FactSet. The online ad revenue was also very impressive, growing by 15% to 24.7 billion yuan, beating a FactSet…

Ethereum faces 6-month lows versus Bitcoin — Will ETH price rebound?

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Ethereum’s native token, Ether (ETH), continues its multi-month downtrend against Bitcoin (BTC) in March, rising 5.5% versus the latter’s 19.5% gains on a month-to-date (MTD) timeframe. Bitcoin overshadows Ethereum amid banking crisis As of March 23, the ETH/BTC pair was down about 9% month-to-date (MTD) to 0.0633 while staying on course to record its worst month since September 2022 when it fell 11.75%. ETH/BTC monthly price chart. Source: TradingView From a fundamental perspective, traders preferred Bitcoin over Ether, hoping it would protect them from the ongoing banking turmoil in the…