Month: April 2023

Is Chief Twit Elon Musk Also Top DOGE?

Dogecoin is apparently spiking because people believe that Elon Musk could soon integrate a permanent dogecoin payment system on Twitter, the microblogging platform he overpaid for ($43 billion). Twitter has several million daily active users, many of them high-profile, and if even just a small percentage begin transacting in DOGE – as a joke or not – it’s not completely irrational to speculate on that translating into a higher price. Mind you, Twitter already has payment/tipping features using the U.S. dollar and the Bitcoin Lightning network. The latter is rarely…

USDC Boasted Transparency. It Didn’t Help When Silicon Valley Bank Got Into Trouble

On a long enough timeline, another significant stablecoin test, like the one that faced USDC, is inevitable. The reasons for the next one will be difficult to predict, and likely different from the last one. While opacity and a nonchalant approach to reserve management may not have been punished this time around (indeed, they seem to have been rewarded), if issuers internalize these lessons, then the next stablecoin crisis will only come sooner, and at a much larger scale. Source

Bitcoin Creator Satoshi Nakamoto Turns 48 Today, Coinciding With the Anniversary of FDR’s US Gold Ban – Featured Bitcoin News

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According to the P2P Foundation forum, the mysterious creator of Bitcoin, Satoshi Nakamoto, has ostensibly turned 48 today on April 5, 2023. More than 14 years ago, Nakamoto introduced Bitcoin to the forum members, noting that the inventor “developed a new open-source P2P e-cash system called Bitcoin.” The Significance of April 5 in the History of the U.S. Monetary System and Its Connection to Bitcoin’s Creator Just over 14 years ago, Satoshi Nakamoto registered with the P2P Foundation forum to share information about Bitcoin. According to Nakamoto’s P2P Foundation page,…

3 key Ethereum price metrics cast doubt on the strength of ETH’s recent rally

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Ether (ETH) price had been battling the $1,850 resistance level, but it broke through on April 4 when Ether rallied to a 7-month high above $1,900. Recently there has been a lot of speculation on Ether price catalysts, let’s see if it’s possible to identify any fundamental factors behind the price movement.  The upcoming Shanghai hard fork could be one factor in Ether’s recent bullish momentum. On April 12, the ability for validators to withdraw their deposits opens, giving staking participants freedom of movement, but also t creating a sell-off…

Inventor of Ethereum’s ERC-20 Token Standard Plans New Blockchain ‘LUKSO’ for Creative Types

LSP0, which turns ERC-725 into a smart-contract-based profile, tackles the functionality and makes profiles more user-friendly on the blockchain. It combines a crypto type wallet, similar to an Ethereum account, with smart contract storage. In addition to having a regular crypto account attached to these profiles, users can link to any public information they want, like their Twitter account or NFTs. Source

Crypto firms need to be ‘supervisable,’ says ECB board member

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Elizabeth McCaul, a supervisory board member of the European Central Bank (ECB), has called for additional oversight of crypto firms operating in a borderless state outside typical attempts at supervision. In an April 5 blog post, McCaul said there was currently no adequate regulatory or supervisory framework for crypto firms but that the collapse of the FTX exchange helped shed light on the problem. She called on policymakers to address potential gaps in existing frameworks that could lead to bank failures, citing the collapses of Silicon Valley Bank and Signature…

MicroStrategy Bets Bigger On Bitcoin With $29 Million BTC Scoop

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Summary: MicroStrategy added to its Bitcoin coffers with a $29.3 million BTC purchase, per SEC filing from April 4. The business intelligence firm accumulated 1,045 at an average price of $28,016 per BTC since March 24. Michael Saylor’s firm is the single largest corporate BTC holder with 140,000 tokens, around 0.66% of Bitcoin’s total supply of 21 million coins. Business software firm MicroStrategy accumulated more Bitcoin since March, spending tens of millions of dollars to stack satoshis as crypto’s top coin eyes $30,000. A filing with the U.S. Securities and…