Month: April 2023

China, Brazil Can Be Instrumental in Building Less Centralized World With No Hegemony, Says Lula’s Adviser – Economics Bitcoin News

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Brazil’s President Luiz Inacio Lula da Silva’s chief adviser on foreign policy, Celso Amorim, says China and Brazil “are coming closer together” and they could play important roles in building a less centralized world with no hegemony. Commenting on de-dollarization, he stressed: “I think it’s very important that we are free from the dominance of one single currency because sometimes it is used politically.” Brazil, China ‘Coming Closer Together’ Brazilian President Luiz Inacio Lula da Silva’s senior foreign policy adviser, Celso Amorim, discussed de-dollarization on Friday in an interview with…

Bitcoin, Ether are ‘like gold’ says Cathie Wood, but Ray Dalio is skeptical

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Recent turmoil in the banking sector has shown that Bitcoin (BTC) and Ether (ETH) can withstand a shaky economy, outperform other asset classes and function like gold, says ARK Invest chief executive Cathie Wood — though one long-time investor still isn’t sold. Wood explained in an April 15 interview that Bitcoin’s resilience throughout the most recent banking crisis has been “the most remarkable” of all indicators her tech-focused investment management firm is monitoring. Bitcoin and Ether are now acting as “risk-off” assets and as a “flight to safety” for investors…

Ether Price Hits Fresh 11-Month High

Ether was over $2,100, as many investors opt for the prospect of additional liquidity while earning staking rewards over the desire to take immediate profits and run. Dexterity Capital managing partner Michael Safai shared his crypto markets analysis. Plus, Blockchain Association director of government relations Ron Hammond weighed in on the state of crypto regulation ahead of SEC chair Gary Gensler’s testimony before lawmakers next week. And TurboTax tax expert Lisa Greene-Lewis shared tips on what crypto investors need to know ahead of Tax Day. Source

Growing Links Between Middle East, Russia, China Pose Huge Challenge for US, Warns Former Treasury Secretary – Economics Bitcoin News

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Former Treasury Secretary Lawrence Summers has expressed concerns that a rising number of countries, including China, Russia, and the Middle East, are aligning themselves and gaining global influence. “I think [it] is a huge challenge for the United States,” he cautioned. Larry Summers on Countries Banding Together Against the US Former Treasury Secretary Lawrence Summers expressed concern on Bloomberg TV Friday about an increasing number of nations coming together and gaining global influence against the U.S. He made these remarks on the sidelines of the spring meetings of the International…

Police in Kosovo Seize Crypto Mining Rigs From Serbs – Mining Bitcoin News

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Kosovo police have seized dozens of crypto mining devices from residents of a majority Serb region in the north of the country. Authorities in Pristina and Belgrade exchanged accusations over the move, which has the potential to raise tensions in the ethnically divided, partially recognized Balkan state. Kosovo Government Cracks Down on Crypto Mining in Mainly Serb North Law enforcement in Kosovo has carried out raids against cryptocurrency mining in a northern municipality where Serbs form the majority of the population, the Turkish Anadolu Agency reported, quoting a member of…

DeFi lending protocol, Hundred Finance, hacked for $7.4m

Multichain lending protocol, Hundred Finance, was hacked on Ethereum’s layer-2 scaling solution, Optimism, resulting in a loss of approximately $7.4m. Hundred Finance hacked On April 15, the DeFi platform announced that it had contacted the hacker and collaborated with many security teams. The protocol also requested anyone with information to get in touch. Estimated current loss is ~7m USD. Once again we hope the hacker will reach out back to us and we will be able to find a joint solution to resolve this matter. 🙏 Thank you everyone for…

BIS Project Sparks Controversy Among Critics; Lynette Zang Warns of Dangers of CBDCs – Featured Bitcoin News

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During the weekend, discussions about central bank digital currencies, or CBDCs, trended on social media as many people believe the idea will result in increased financial surveillance and a totalitarian monetary system. In a recent interview, Lynette Zang, the chief market analyst at ITM Trading, warned that CBDCs will “take the world into a full surveillance economy that can be controlled directly by the central bank.” ‘Convincing You to Support a Controlled CBDC Has Begun’ In the past week, discussions about CBDCs have trended on social media, and commentary shows…

Uniswap passes proposal to launch on Polygon zkEVM 

The Uniswap community has fully supported a proposal to deploy the exchange’s protocol to the Polygon Zero Knowledge Ethereum Virtual Machine rollup (zkEVM). All participating UNI token holders unanimously voted on the proposal to see a large list of projects built on the Uniswap v3. Uniswap is a top decentralized exchange; UNI is the portal’s native token. Uniswap v3 to feature Polygon’s zkEVM  All 191 UNI holders voted to pass the proposal to deploy Uniswap’s protocol on scaling solution provider Polygon’s ZkEVM rollup. The votes surpassed the 40m threshold, and over…

Bitcoin breaks $30,000 as ethereum hits $2k after Shanghai, global crypto adoption rising

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This week was mostly bullish for crypto assets, particularly considering the stellar performance of top virtual currencies. The successful implementation of the Shanghai upgrade on Ethereum saw ETH, the native currency of the smart contracting network, push above $2,000 for the first time in 2023. Meanwhile, bitcoin (BTC) broke above $30,000 as bulls extended gains. Meanwhile, there were more positive news on adoption despite a wave of disheartening breaches and fraud puncturing investor confidence. A resurgence of hacks and fraud schemes Terraport Finance, a decentralized finance (DeFi) project on the…

Lessons on Fractional Reserve Banking From 15th Century Italy – Featured Bitcoin News

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Amid the banking chaos of the 21st century, some are looking back more than 600 years ago, to the Medici Bank — one of the most powerful banks of its time. It established its business and became one of the most respected banks in Europe during its prime, and the prominent Italian family of bankers were early adopters of fractional reserve banking, a practice that Medici Bank customers were unaware of, and that ultimately led to the financial institution’s failure. ‘Nothing New’— How the Medici Bank Failure Is Still Very…