Day: April 10, 2023

Bitcoin price rallies to $29.4K as traders gear up for this week’s CPI print

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Bitcoin (BTC) rose to its highest level in ten months on April 10 as traders await this week’s April 12 consumer price index report to gain deeper insight into the Federal Reserve’s fight against sticky inflation. If the report shows inflation dropping, it could be the next possible catalyst that further’s BTC’s upward move.  On April 10, BTC price soared 3.37% to over $29,300 after a quiet Easter weekend. Interestingly, Bitcoin’s intraday gains appeared alongside a drop in U.S. equities, a rare decoupling that highlights the coin’s diminishing risk-on characteristics.…

Texas’ gold-backed digital currency project: Law Decoded, April 3–10

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The topic of central bank digital currencies is in the crossfire of United States politicians, with figures like Ron DeSantis and Ted Cruz trying to prevent them from existing. But what about a statewide digital currency? The first of its kind, a gold-backed state-based digital currency project has appeared in Texas.  On the same day, two Texan lawmakers introduced identical bills for creating a state-based digital currency backed by gold. Each unit of the digital currency would represent a particular fraction of a troy ounce of gold held in trust,…

Etherscan Reconfigures Blockchain Explorer Settings to Filter Out Potential Scams

The blockchain explorer will now hide zero-value token transfer displays on its website by default. The setting aims to prevent users from becoming victims of “address poisoning” hacks, in which attackers send virtually valueless tokens to a user’s wallet addresses to bait them into sending tokens to a scam address. Source BlockchainEtherscanExplorerfilterPotentialReconfiguresScamsSettings CryptoX Portal

Coinbase head of exchange departs and plans to start new crypto project: Report

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Vishal Gupta, who has been the head of exchange at Coinbase, is reportedly leaving his position after more than two years at the United States-based cryptocurrency exchange. According to an April 10 Bloomberg report, Gupta planned to exit Coinbase but remain in the crypto space, suggesting he could be planning to start a new project focused on digital assets or blockchain. Prior to his time at Coinbase, Gupta was the head of USD Coin (USDC) for stablecoin issuer Circle as well as a vice president for Goldman Sachs. Former FTX…

$13,000,000 Vanishes After Korean Crypto Exchange GDAC Hacked

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South Korean cryptocurrency exchange GDAC has reported that hackers have stolen almost $13 million on Sunday, April 9. According to a GDAC support page, the hackers transferred approximately 23% of GDAC’s total custodial assets from the exchange’s hot wallet to an unidentified wallet, which included nearly $13,000,000 in Bitcoin (BTC), Ethereum (ETH), Wemix (WEMIX), and Tether (USDT). GDAC is currently working with several institutions to recover the funds and has notified authorities about the incident. The exchange has also suspended its wallet system and related servers and reported the event to…

Men under 50 shoring up US cryptocurrency market: Pew Research

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The Pew Research Center’s latest U.S. cryptocurrency report, published April 10, shows little in the way of surprises when it comes to the nation’s adoption and confidence in the burgeoning crypto market.  Perhaps the biggest takeaway is Pew’s finding that 75% of U.S. adults who’ve heard of cryptocurrency have little or no confidence in their safety and reliability. That statistic may not express the actual sentiment of the average cryptocurrency investor, however, as adoption rates vary wildly by age and gender, with men ages 18 to 50 providing the bulk…

Top Philippine Exchange Coins.ph Suspends XRP Withdrawals Due to Technical Issues

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Leading Philippines based crypto exchange company Coins.ph has announced that it is temporarily halting XRP withdrawals due to technical issues.  “Hi Coinmunity! Please be informed that XRP withdrawal services are currently disabled. We are already working closely with our technical team to resolve the issue as soon as possible…” the company stated through a Twitter post.  Users appear to be concerned, as some are inquiring about their unreceived deposits and inability to work on platforms like Binance. One user warned that there’s no update on the app and it should…

Bernstein says if you like gold, you should like bitcoin even more

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It’s “irrational” to like gold and dislike bitcoin at this point in the macro cycle, according to Bernstein. While ether has been gaining strength relative to bitcoin ahead of the “Shanghai” upgrade this week , bitcoin has outperformed it and the major stock averages this year. Consider that bitcoin has gained about 75% year to date, according to CoinMetrics, while the S & P 500 has climbed 6.7% in 2023. At the same time, the flagship cryptocurrency’s correlation with gold has been climbing, while its correlation with stocks has declined,…

SinVerse Secures Strategic Partnership and Investment from DWF Labs to Drive Web-3 Gaming Industry – Press release Bitcoin News

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press release PRESS RELEASE. SinVerse Studios, a trailblazing web-3 game studio, has secured a substantial seven digit investment deal led by DWF Labs to propel its platform’s growth and solidify its position as an industry leader. The partnership marks a significant milestone for SinVerse Studios, with DWF Labs providing strategic backing and support to accelerate the company’s ambitious plans for the future. SinVerse Studios is revolutionising the gaming industry with the creation of the first-ever Mafia Metaverse on the Blockchain, featuring gameplay akin to the popular Grand Theft Auto (GTA)…