Month: April 2023

Saudi Arabia, BRICS; Ron Paul Weighs in on Potential Fall of Dollar as Reserve — Week in Review – The Weekly Bitcoin News

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The United States dollar has been a hot topic in recent weeks, with multiple reported developments occurring globally which could signal significant moves toward de-dollarization in large economies. Former U.S. congressman Ron Paul also noted this week that if the USD’s influence as a reserve currency is undermined, it might happen later than some expect. All this and more, just below, in the latest Bitcoin.com News Week in Review. US-Saudi Tensions Escalate as Report Says Crown Prince Is No Longer Interested in Pleasing the United States After Saudi Arabia and…

Russia Takes Second Place Rank by Power Capacity in Crypto Mining, Reports – Mining Bitcoin News

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Russia is now ranking second in terms of energy capacities engaged in the extraction of cryptocurrencies, new data suggests. Despite persisting regulatory uncertainty and the negative effects of sanctions, the amount of power devoted to the sector has been growing, reaching record highs this year. 1 GW of Electrical Power Involved in Crypto Mining in Russia During Q1 of 2023 Russia has for the first time climbed to second place in the world in terms of total power capacity of the facilities devoted to the production of digital currencies. According…

Gaming accounted for 45% of Q1 2023 blockchain activity

Q1 2023 has been a mixed bag in the blockchain gaming world. A report by DappRadar and the Blockchain Game Alliance shows that gaming as a whole increased its dominance from 42.87% in Q4 of 2022 to 45.60% in Q1 of 2023, carving market share from decentralized finance (DeFi), non-fungible tokens (NFTs), and social activities. This comes despite the number of daily unique active wallets (dUAW) decreasing by 8.58% from the previous quarter. One of the notable developments Q1 2023 was the rise of Polygon, a blockchain previously known for…

How slow US job growth could boost markets

Since the economic effects of the COVID-19 pandemic, the job market in the United States has been making gradual progress toward recovery. Despite recent encouraging job growth, it has yet fully returned to pre-pandemic levels. Nevertheless, the crypto market has benefited despite the gradual rebound. Slow US job growth and crypto According to the most recent employment data, the United States created 236,000 jobs in March, more than the forecasted 228,000 jobs. Even though this seems like a slight divergence, it is essential to remember that these figures can significantly impact…

CBDC the ‘Single Largest Assault to Financial Privacy Since Creation of Bank Secrecy Act’ – Featured Bitcoin News

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A central bank digital currency (CBDC) may turn out to be the “single largest assault to financial privacy since the creation of the Bank Secrecy Act,” a policy analysis document released by CATO Institute has said. To stop the U.S. Federal Reserve and Treasury from threatening the financial system with the CBDC, the document said the U.S. Congress “should explicitly prohibit” its issuance. CBDCs a Threat to Financial Privacy A policy analysis document released on April 4 by the CATO Institute warns that a central bank digital currency could be…

Ripple lawyer expects ruling within a month, says it will impact crypto’s future

A lawyer representing thousands of crypto enthusiasts in the case brought against Ripple by the Securities and Exchange Commission (SEC) suggested a verdict could be delivered by May 6, 2023. In an April 5 interview with Thinking Crypto, John Deaton, a cryptocurrency lawyer and XRP supporter, said that Judge Analisa Torres, who is presiding over the SEC’s case against Ripple in the Southern District of New York, usually issues her decisions within a couple of months of her Daubert/Experts’ decision, which was made on March 31. Although Judge Torres has…

Texas lawmakers propose a gold-backed state digital currency

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Two Texas lawmakers have introduced identical bills for creating a state-based digital currency backed by gold, a move that comes despite objections from several United States lawmakers against introducing a central bank digital currency (CBDC). Senator Bryan Hughes introduced Senate Bill 2334 on March 10, and Representative Mark Dorazio introduced House Bill 4903 on the same day, stating that a fractional equivalent amount of physical gold would back the proposed digital currency. “Each unit of the digital currency issued represents a particular fraction of a troy ounce of gold held in trust,”…

NFT Marketplace Looksrare Launches Version 2, Cutting Protocol Fees by 75% and Introducing Bulk Purchases – Bitcoin News

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Looksrare, the non-fungible token (NFT) marketplace, has launched version two, also known as v2, which reduces protocol fees by 75%. According to statistics from Dune Analytics, Looksrare was the tenth-largest NFT marketplace in terms of trader count during the past week. NFT Market Protocol Looksrare Launches v2 NFT marketplace Looksrare announced the launch of version two (v2) on April 6, 2023. One of the significant changes is the reduction of Looksrare’s fees by 75% with v2. “Looksrare’s protocol fee is now a fixed 0.5%, down from 2%,” the team noted…

Crypto Exchanges Must Share User Data With Russia, Prosecutor General Demands – Exchanges Bitcoin News

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Digital asset exchanges must be obliged to provide user information to Russia’s law enforcement agencies, the country’s Prosecutor General has insisted. The circulation of cryptocurrencies in the Russian Federation needs to be regulated to counter money laundering, the official added. Cryptocurrency Exchanges Have to Report to Russian Authorities, Chief Prosecutor Says Crypto service providers should be required to register in Russia and exchanges obliged to share information about their users with Russian security services, according to the head of the nation’s Prosecutor General’s Office, Igor Krasnov. He also believes that…