April 18, 2023

ECB President Lagarde Warns of ‘Major Disaster’ If US Defaults on Debt Obligations – Economics Bitcoin News

April 18, 2023 boss

There is a lot of discussion lately about the U.S. government’s debt ceiling and whether Congress will act before defaulting. In a recent interview, Christine Lagarde, the president of the European Central Bank (ECB), said she is confident the U.S. can maintain its debt obligations. However, she warned that if the U.S. were to default on its debts, it would be a “major disaster.” Lagarde Confident in U.S. Debt Management Despite Predictions of Possible Default Crisis for Government in August or September Although the United States of America is an…

Intel will stop manufacturing chips for Bitcoin miners: Report

April 18, 2023 boss

Major United States-based technology company Intel has reportedly announced plans to discontinue its line of Blockscale Bitcoin mining chips as part of efforts to cut costs. According to an April 18 Reuters report, the semiconductor chip manufacturing company will stop taking orders for the Blockscale 1000 Series ASICs by Oct. 20 and end shipping roughly in April 2024. Intel reportedly said the move was aimed at a strategy of prioritizing the manufacturing of certain chips to outside customers, cutting overall costs. Intel launched the Blockscale mining chips in April 2022,…

Rocket Pool Made It Cheaper to Stake ETH Through Its Platform Following Ethereum Shanghai Upgrade

April 18, 2023

Rocket Pool’s recent upgrade gives node operators immediate access to their staking rewards and lowers the barrier of entry to spin up an Ethereum validator, or “minipool,” in the protocol’s parlance. Instead of providing 16 ether (ETH), node operators can supply just eight plus some RPL – Rocket Pool’s governance token – to form a minipool, decreasing the amount of capital required to participate in Ethereum’s staking process. Source

Crypto Companies May Use a Supreme Court Doctrine to Push Back Against SEC: Lawyer

April 18, 2023

Crypto firms are using the major questions doctrine as a way to fend off regulators, Jason Gottlieb, a partner at Morrison Cohen LLP, said. Source

FTX Reboot Plan Attracts Interest From VC Firm Tribe Capital: Report

April 18, 2023

Tribe, whose portfolio included FTX ahead of its dramatic collapse in November, is considering leading a $250 million fund raise, with a $100 million commitment from itself, according to the report. A source told Bloomberg that Tribe Capital co-founder Arjun Sethi met with FTX’s official committee of unsecured creditors in January to go over an informal proposal. Source AttractsCapitalFirmFTXInterestPlanRebootReportTribe CryptoX Portal

Kraken receives virtual asset service provider authorization in Ireland ahead of MiCA vote

April 18, 2023 boss

Payward Europe Solutions, an Irish subsidiary of Kraken registered in Dublin, was awarded virtual asset service provider (VASP) authorization from the Central Bank of Ireland on April 18. We’re pleased to announce that Kraken has successfully registered with the Central Bank of Ireland (CBI) as a Virtual Asset Service Provider (VASP), affirming our commitment to helping drive crypto adoption in Europe Learn more https://t.co/mowesdqEGj pic.twitter.com/C2ScvDhpa1 — Kraken Exchange (@krakenfx) April 18, 2023 The VASP authorization comes at a critical time for Kraken. The European Union is scheduled to conduct its…

Bitcoin price struggles to hold above $30K amid regulatory uncertainty

April 18, 2023 boss

Bitcoin (BTC) price reclaimed the $30,000 support on April 18 after briefly testing $29,130 on the previous day. However, traders question whether the recovery is sustainable given the increased regulatory scrutiny, especially in the United States. Bitcoin price in USD, 4-hour. Source: TradingView Rostin Behnam, the Chairman of the Commodity Futures Trading Commission (CFTC), said on April 14 that Binance intentionally broke U.S. rules concerning futures and commodities trading. For example, knowingly allowing U.S. citizens to participate on the exchange through the use of obfuscation tools. The comments stem from…

Bitcoin retracing? Here are the odds of it returning to $28K

April 18, 2023 boss

In today’s Market Report episode, analyst and writer Marcel Pechman covers the regulatory environment that has been limiting Bitcoin’s (BTC) upside and the odds of a dump at $28,000. The show airs every Tuesday on the Cointelegraph Markets & Research YouTube channel. The first news article discussed is crypto exchange Bittrex and its founder being charged by the SEC. More importantly, United States Securities and Exchange Commission Enforcement Division Director Gurbir Grewal said that such “action should also send a message to other non-compliant crypto market intermediaries.” In Pechman’s opinion, that’s…

Ethereum Unstaking Requests Now Face About a 17-Day Wait After Shanghai Upgrade

April 18, 2023

According to Niklas Polk, an analyst at Nansen, validators first send a voluntary message to exit, involving a 25-minute wait. Then these validators join the exit queue, which now sits at 11.7 days. Once they move out of this phase, they are faced with a withdrawal delay of about 27 hours. Finally, withdrawals are processed and deposited after another 4.25 days. Source

Microsoft is developing its own AI chip to power ChatGPT: Report

April 18, 2023 boss

Microsoft has secretly been developing its own artificial intelligence (AI) chips to deal with the rising costs of development for in-house and OpenAI projects, per a report from The Information. Reportedly in the works since 2019, Microsoft’s recently revealed hardware venture appears to be designed to reduce the Redmond company’s reliance on Nvidia’s GPUs. SCOOP: Microsoft has been developing an AI chip in-house since 2019, codenamed Athena. Msft hopes the chip will help it control the cost of powering large-language models, the one behind OpenAI’s ChatGPT. w/ @waynema https://t.co/m88oS1KSt7 @theinformation…