“Bitcoin has effectively decoupled from the traditional markets since the start of the year, up over 80% while stocks have slumped,” said Alex Adelman, CEO of bitcoin rewards app Lolli, in an email to CoinDesk. “Bitcoin’s strength compared to the traditional markets shows that investors are increasingly shifting their capital into bitcoin, choosing it instead of traditional investments to build their wealth.” Original
Beijing allowing bitcoin’s price to be displayed on one of the country’s largest social network platforms shows a growing acceptance of the asset class within the country. Source
February’s round of legal expenses for bankrupt crypto exchange FTX has been published and it remains a scary figure for debtors. A series of court filings from April 4 to April 10 detailed the monthly fee statements for February of the law firms involved with FTX’s bankruptcy proceedings which come to a combined total of around $32.5 million. The figure didn’t include the recompense for restructuring chief and CEO John J. Ray III who pocketed $305,000 in February according to a March court filing. Ray’s remuneration for March came in…
Paris Blockchain Week awarded the United Nations High Commissioner for Refugees (UNHCR) for its innovative approach to using cryptocurrency to assist internally displaced Ukrainian refugees. UNHCR uses crypto to aid internally displaced Ukrainians According to Trustnodes, the UNHCR, the UN’s refugee agency, has been awarded for using crypto to help displaced refugees in Ukraine. The program provides qualified users with direct cash payments in USDc. The scheme directly distributes cash in USDc to approved aid users who must simply download a wallet called the Vibrant app. We just won ‘Best…
Open Exchange (OPNX) has claimed to have experienced a massive surge in trading volume and has joked about its dismally low volume on its opening day. According to an April 10 tweet by OPNX, its day one trading volume on April 4 hit a total of $13.64 but has since apparently seen a surge to $12,398 on April 9, an increase of over 90,000%. We’re thrilled to announce a significant increase in trading volume at OPNX! On day 1, our volume was a hard-fought $13.64. Today on day 5, it…
Presidential hopefuls Robert F. Kennedy Jr. (RFK Jr.) and Ron DeSantis are rallying against the Federal Reserve’s FedNow payments system claiming it would pave the way for a Central Bank Digital Currency (CBDC). In an April 11 Twitter thread, Democrat RFK Jr. — the nephew of former president John F. Kennedy Jr. — once again sounded the alarm bells over CBDCs describing them as the “ultimate mechanisms for social surveillance and control” as he questioned the Fed’s claims that FedNow won’t be used to facilitate a CBDC: “The claim that…
ALSO: Sam Reynolds writes that former BitMex CEO Arthur Hayes foresees the balkanization of finance and bitcoin rallying because the current global banking system “is bankrupt.” Bitcoin is on the rise. Source
The U.S. Securities and Exchange Commission’s Investor Advisory Committee has advised the SEC to “aggressively” assert authority over crypto assets that are securities. The advisory committee believes that “virtually all, if not all, crypto tokens are securities,” urging the regulator to “make crypto asset-related enforcement a top priority.” SEC Urged to ‘Aggressively’ Assert Authority Over Crypto Securities The U.S. Securities and Exchange Commission (SEC) Investor Advisory Committee (IAC) submitted its view on the regulation of crypto assets to the SEC on Thursday. The committee was established under Section 911 of…
The South Korean crypto exchange GDAC was compromised on April 9. GDAC is widely recognized for token-to-token transactions. The breach resulted in the theft of 23% of the exchange’s assets. The hackers stole 61 bitcoin (BTC), 350.5 ether (ETH), 10 million wemix tokens (WEMIX), and 220,000 USDT. GDAC declared that it has informed law enforcement about the hack and is attempting to recover the monies. Over $13.1 million was lost on the exchange. More than $10 million in losses were attributable to WEMIX. According to the company’s report on April…
A few solutions are being discussed to fix a code bug found in the Bitcoin (BTC)-native Ordinals protocol which has prevented over 1,200 inscriptions from being validated. While nearly every member of the Ordinals community agrees that these inscription requests should be reincluded, the community is debating whether they should be added retroactively or not. The bug came from the indexer function of the protocol only counting inscriptions that were in the first input of a transaction submitted up to and including version 0.5.1 of the protocol. One prominent Ordinals…