Day: April 19, 2023

Australia installs more Bitcoin ATMs than whole of Asia

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Australia, the country that hosts the third-largest network of Bitcoin (BTC) ATMs, surpassed the continent of Asia in terms of the total number of crypto ATMs installed. Since the beginning of 2023, Australia has been on a crypto ATM installation spree, climbing from fifth to third in January alone. Data from Coin ATM Radar confirms that the country has kept up the effort to install avenues for fiat-to-crypto conversions. Crypto ATM distribution by countries and continents. Source: Coin ATM Radar Over the last eight months, Australia consistently added Bitcoin ATMs, unlike…

US Lawmakers Slam SEC Chair over Multiple Rushed Rules and Hostility against Crypto Firms

The lawmakers also referred to the enforcement actions against crypto companies by the SEC. The US lawmakers have put the chairman of the Securities and Exchange Commission (SEC) Gary Gensler on a hot seat over rushed rulemaking. For the first time since the Republicans took over the House of Representatives in January, Gensler testified before the House Financial Services Committee. The SEC head appeared to defend his regulatory agenda on crypto assets and the pace of rulemaking in specific areas like climate change risks. Under Gensler’s administration, the SEC has…

BTC price dives 3% in minutes as ‘deep correction’ grips crypto market

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Bitcoin (BTC) abruptly reversed gains on April 19 as a cascade of long liquidations sent BTC/USD plummeting lower. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin sees “beautiful” retracement Data from Cointelegraph Markets Pro and TradingView followed the pair as it made lows of $29,015 on Bitstamp.  The sudden move followed an equally strong rebound above the $30,000 mark the day prior, with bulls ultimately unable to preserve higher levels. As volatility returned, Bitcoin thus fell to its lowest since April 10 as the upside saw its latest challenge. “Deep correction…

US Lawmaker Introducing Legislation to Remove SEC Chairman Due to ‘Long Series of Abuses’ – Regulation Bitcoin News

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A U.S. lawmaker has announced that he is introducing legislation to remove the Securities and Exchange Commission (SEC) chairman in order to “correct a long series of abuses.” The SEC, under Chair Gary Gensler, has been heavily criticized for its enforcement-centric approach to regulating the crypto industry. Lawmaker Seeks to Remove SEC’s Chairman U.S. Congressman Warren Davidson (R-OH) has revealed that he is introducing legislation to remove the chairman of the U.S. Securities and Exchange Commission (SEC). The lawmaker from Ohio tweeted Friday: To correct a long series of abuses,…

Netflix Posts Mixed Results for Q1 2023 and Delays Password-Sharing Crackdown, NFLX Slightly Down

Netflix is postponing the broad rollout of its password-sharing crackdown, which was originally scheduled for the first quarter. Netflix Inc (NASDAQ: NFLX) released mixed financial results for the first quarter that ended March 31 as it postponed its password-sharing crackdown. While the company topped analysts’ estimates in the quarterly earnings, revenue came slightly down. Earnings came in at 1.13 billion or $2.88 per share, a little over Wall Street’s estimates of $1.6 billion or $3.53 per share. Also, it went below the expected revenue of $8.18 billion to $8.16 billion.…

SEC Chair Gensler Declines to Say if Ether Is a Security in Contentious Congressional Hearing

Over the course of the marathon hearing, Gensler fended off questions about whether his agency was pushing too hard on proposed rules, providing too little time for public feedback on these rules, how it was approaching crypto companies hoping to operate in the U.S. and a host of non-crypto questions, including proposed disclosure requirements around climate change and audit trails. Source

Merit Circle DAO Announces Gaming Subnet Dubbed Beam in Partnership with Avalanche (AVAX)

The $MC token is expected to be used for gas fees and network validation on the Beam subnet. Merit Circle DAO, a growing global digital community focused on developing futuristic gaming infrastructure, announced the launch of Beam, a gaming subnet built on the Avalanche (AVAX)  blockchain. With a sole focus on revolutionizing the gaming industry, Merit Circle DAO has announced that Web3 developers seeking to build next-generation gaming protocols can now tap into the Beam network. Closer Look at Beam Network by Merit Circle DAO The Merit Circle DAO developed…

UAL Shares Up 2%, United Airlines Reports Net Loss in Q1 2023 but Projects Strong International Demand in Q2

United Airlines reported that its total capacity went up by approximately 23.4 percent during the first three months of the year. United Airlines Holdings Inc (NASDAQ: UAL) announced its first-quarter (Q1 2023) financial results on April 18. According to the announcement, the company recorded a $256 million pre-tax loss for the first three months of the year. Nevertheless, the company reassured shareholders that it expects a strong international demand during the second quarter, estimated to be twice the domestic rate. As a result, UAL shares closed April 18 trading at…