Month: March 2023

Arbitrum’s ARB token signifies the start of airdrop season — Here are 5 to look out for

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Arbitrum developers announced an airdrop of its governance token, ARB, to eligible users and DAOs on the Ethereum Layer-2 platform. An average user received around 625 ARB tokens, which corresponds to around $625 to $1,250, according to pre-launch trading prices and popular estimations. The prospect of earning free money has instilled excitement around users looking to hunt the next airdrop opportunity. The airdrop farming activity also benefits the protocols by attracting liquidity and usage to the platform. The strategy is working well for both protocol developers and users. Moreover, the…

SEC files lawsuit against Tron’s Justin Sun and celebrities over crypto securities offering

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The United States Securities and Exchange Commission, or SEC, has called for a jury trial against Tron founder Justin Sun for the “orchestration of the unregistered offer and sale, manipulative trading, and unlawful touting of crypto asset securities.” In a March 22 filing in U.S. District Court for the Southern District of New York, the SEC named Sun, the Tron Foundation, the BitTorrent Foundation, and Rainberry over the offer and sale of Tron (TRX) and BitTorrent (BTT), alleging the tokens were securities. The financial regulator further alleged Sun engaged in…

Bitcoin Sinks Below $27K as Fed, Powell Keep Focus on Inflation

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Still, a number of analysts were optimistic about bitcoin’s price in the near future, given the bank sector’s calamities. “Bitcoin, straddling between being the leading risk-on asset and a financial lifeboat in the event of an all-out banking crisis, has benefitted from the recent turmoil and now the prospect that the Fed’s tightening could be over,” James Lavish, managing partner at Bitcoin Opportunity Fund, told CoinDesk in an email. Original

Value Locked in Defi Rises Above $50 Billion Mark, Ethereum Dominates TVL by Blockchain – Defi Bitcoin News

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The total value locked (TVL) in decentralized finance (defi) has risen above the $50 billion mark after falling below the range throughout most of March. At present, the value locked in defi is approximately $50.34 billion, up 1.97% over the past 24 hours. Defi Value Swells Close to 2% Higher to Over $50 Billion With crypto assets swelling in value and the crypto economy rising 1.2% to $1.24 trillion, the total value locked (TVL) in defi on Wednesday was $50.34 billion. The defi platform Lido Finance dominates the top defi…

Deloitte dives into immersive experiences as more industries turn to Web3

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Immersive experiences are already popular in the entertainment, gaming, and fashion industries, but they can also be a tool to address various other corporate needs, like simulating manufacturing operations and training managers to have sensitive conversations.  Deloitte made this bet in late February when it announced a partnership with virtual spaces company Vatom to offer immersive experiences for various industries, from companies seeking to boost culture with virtual reality to brands focused on building community engagement. Together, the companies claim to deliver the ability to host thousands of people simultaneously…

Ethereum price at $1.4K was a bargain, and a rally toward $2K looks like the next step

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Ether’s (ETH) price reached $1,400 on March 10, which proved to be a bargain as the cryptocurrency rallied 27.1% until March 21. However, the three reasons that supported the price gain, including correlation with tech stocks, its increasing total value locked and its deflationary token economics, all suggest that the path to $2,000 is set in stone.  There are numerous explanations for Ether’s 19.4% decline over the past six months. Ethereum’s Shanghai hard fork upgrade was delayed from March to early April and after Shanghai, Ethereum’s roadmap includes the “Surge” “Verge,”…

US lawmakers reiterate concerns about ‘sham’ crypto firm audits to PCAOB

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United States Senators Elizabeth Warren and Ron Wyden have cited the recent collapse of three major banks to call on the Public Company Accounting Oversight Board to “rein in” audits of crypto firms. In a March 21 letter to Public Company Accounting Oversight Board chair Erica Williams, Warren and Wyden reiterated concerns over “shady audits” of crypto companies the pair raised in January, this time referencing the failures of Silvergate Bank, Silicon Valley Bank, and Signature Bank. The two senators requested Williams respond to questions on whether improper audits and…

Bitcoin price whipsaws as Fed says rate hikes may not be ‘appropriate’

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Bitcoin (BTC) saw heavy volatility on March 22 as the United States Federal Reserve hinted that it might stop interest rate hikes. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Powell on rates: “‘May’ and ‘some’ instead of ‘ongoing’” Data from Cointelegraph Markets Pro and TradingView showed sharp moves both up and down for BTC/USD as the Fed hiked by an anticipated 25 basis points. During a press conference, Fed Chair Jerome Powell appeared to play down the ongoing U.S. banking crisis and its aftermath while hinting that the day’s interest rate hike…

Federal Reserve Hikes Rate by 25bps to Keep Inflation at Bay, Aims for 2% Inflation Rate by 2025 – Bitcoin News

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Following the fallout over the past two weeks in the U.S. banking industry, the Federal Reserve raised the federal funds rate by 25 basis points (bps) on Wednesday, citing the need for the inflation rate to return to 2% over the long run. Fed Raises Rate Despite Calamity in the U.S. Banking Sector It’s been a rough two weeks for the U.S. economy after the fall of Silvergate Bank, Silicon Valley Bank, and Signature Bank. After these bank failures took place, the Federal Reserve announced the creation of the Bank…