Day: April 15, 2023

FTX considers reboot, Ethereum’s fork goes live and OpenAI news

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Top Stories This Week Ethereum’s Shapella hard fork executed on mainnet The Ethereum blockchain’s mainnet, also referred to as the Beacon Chain, implemented the Shapella hard fork on April 12. The upgrade made fund withdrawals possible for those who have staked the network’s Ether (ETH) asset. Within the first hour of the hard fork, a total of 12,859 Ether were unlocked in 4,333 withdrawals, according to Ethereum block explorer beaconchai.in. Nearly a day after the upgrade, ETH surpassed the $2,000 price point. FTX has recovered $7.3B in assets, will consider…

Economist Paul Krugman Criticizes Florida Gov. Ron DeSantis’ Opposition to Central Bank Digital Currency – Bitcoin News

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Economist Paul Krugman questioned why Republican Florida governor Ron DeSantis opposes a central bank digital currency (CBDC) in a recent opinion editorial. Krugman suggested that DeSantis may be motivated by “general paranoia.” He speculated that DeSantis may be influenced by individuals who fear a digital currency could hinder “un-woke activities such as tax evasion and money laundering.” Referring to CBDCs as ‘Woke’ Money, Krugman Attacks ‘Monetary Conspiracy Theory Types’ Economist Paul Krugman, who follows the Keynesian school of economics, wrote an opinion article criticizing Florida governor Ron DeSantis’s opposition to…

Polygon second most searched PoS crypto in the US, study shows  

Polygon (MATIC) piqued the interest of United States residents in the past 90 days, emerging as the second most searched proof-of-stake (PoS)-based cryptoasset within the region, dwarfed by only ether (ETH), data shows. Polygon (MATIC) making waves  Since its launch during the crypto summer of 2017 by Mumbai-based engineers: Jaynti Kanani, Sandeep Nailwa, Anurag Arjun, and Mihailo Bjelic, polygon (MATIC), an ethereum layer-2 scaling solution has witnessed a steady increase in adoption and popularity in the web3 space. Despite experiencing a serious outage that triggered reduced network usage and a…

U.S. Congress to introduce new draft bill for stablecoins

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A new draft bill providing a framework for stablecoins in the United States was published on the House of Representatives’ document repository, a few days before a hearing on the topic on April 19. The draft puts the Federal Reserve in charge of non-bank stablecoin issuers, such as crypto firms Tether and Circle, respectively issuers of Tether (USDT) and USD Coin (USDC).  Stablecoins are a class of cryptocurrencies that attempt to offer investors price stability by being backed by specific assets or using algorithms to adjust their supply based on…

US House Committee Publishes Draft Stablecoin Bill

The bill, available on the Committee’s hearing page, represents the first major piece of crypto legislation to move in 2023. It creates definitions for payment stablecoin issuers, echoing a term former Senator Pat Toomey (R-Pa.) used when he introduced his own stablecoin bill in 2022. The bill also calls for a moratorium on new stablecoins that are backed by other types of tokens until a study can be conducted. Source

Blackrock CEO Expects Inflation to Persist, but No Major US Recession in 2023 – Economics Bitcoin News

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Blackrock’s CEO, Larry Fink, stated in an interview on Friday that he does not anticipate a “big recession” in the United States. However, he believes that “inflation is going to be stickier for longer.” In contrast to the U.S. central bank’s 2% goal, Fink predicts that “we’re going to have a 4ish floor in inflation.” Blackrock Clients Reduce Risk in Portfolios as Inflation Concerns Persist Larry Fink, chairman and CEO of Blackrock (NYSE: BLK), the asset manager with more than $9 trillion in assets under management (AUM), predicts that inflation…

Play-to-Earn is not dead, but game publishers are looking for alternatives

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The Play-to-Earn (P2E) business model may not be dead, but game publishers and developers are exploring alternatives to replace it, according to a panel at the NFT.NYC 2023. Cointelegraph team was on the ground in New York to bring exclusive insights from the NFT event.  According to the CEO of gaming platform OP Games, Chase Freo, companies that branded themselves as P2E are shifting their strategy amid the crypto prices downturn. “It’s a model that is not sustainable at all,” he noted, citing Axie Infinity’s shift in some of its…

Sweden to eliminate incentives for bitcoin miners, raising electricity tax by 6,000%

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Sweden is doing away with tax incentives for data centers come July 2023. This decision could affect bitcoin (BTC) miners who had turned to the Nordic country to increase their profitability. Sweden is eliminating tax incentives for bitcoin miners Sweden has been a hub for bitcoin miners over the last year and is one of the last remaining strongholds in Europe. Energy prices across the continent have been rising primarily due to the ongoing war in…

22,550,000,000 Shiba Inu and Other Crypto Assets Stolen From Bitrue Exchange in Massive Hack: PeckShield

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Tens of billions of Shiba Inu (SHIB) tokens and other digital assets have been stolen from crypto exchange Bitrue in a massive multi-million-dollar exploit. In a new announcement, Bitrue says that hackers were able to exploit a hot wallet to steal about $23 million worth of crypto assets, including Ethereum (ETH), and ERC-20 tokens such as meme asset SHIB, interoperable blockchain Quant (QNT), metaverse gaming platform Gala (GALA), layer-2 scaling solution Polygon (MATIC) and decentralized application (DApp) marketplace Holochain (HOT). “We have identified a brief exploit in one of our…

Elon Musk, a dogecoin supporter, reportedly building new AI company called X.AI

Elon Musk, the technology billionaire and dogecoin (DOGE) supporter has reportedly incorporated a new artificial intelligence (AI) firm called X.AI Corp. in Nevada, United States. The company, established on March 9, has Musk as its director and Jared Birchall, Musk’s family office director; as secretary. According to the company’s articles of incorporation, the sale of 100m shares has already been approved. Speculations about the new AI company The news comes after days of speculation that Musk was planning to launch an AI company. A series of actions by the billionaire…