Month: April 2023

Bitcoin price holding $27K could open buying opportunities in BNB, ADA, XMR and TON

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Bitcoin (BTC) is on target to finish the week with a sharp fall of around 9%. This suggests that some traders may be booking profits in fear of a resumption of the downtrend. Analysts expect Bitcoin to reach the $26,600 to $25,000 zone where buying interest may pick up. When an asset emerges from a bear market, it tries to form higher lows on the way up. These levels act as strong supports during subsequent corrections. The current pullback could end up forming a higher floor for Bitcoin, which may…

Last Emails Reveal Bitcoin Creator’s Thoughts Before Disappearing Over a Decade Ago – Featured Bitcoin News

Twelve years ago, on this very day of April 23, 2011, a cryptic individual, known only as Satoshi Nakamoto, penned one of the final correspondences to software developer Mike Hearn. The elusive mastermind behind Bitcoin conveyed in the message that he, she, or they had “moved on to other things” and confidently asserted that the project was entrusted in “good hands.” Behind the Bitcoin Curtain: The Final Correspondence of Satoshi Nakamoto Following the creation of Bitcoin and the initial implementation of the technology, the enigmatic Satoshi Nakamoto vanished from the…

China’s Neo reveals phygital device, aims to catalyze NFT activity

Neo, a blockchain in China building what they describe as a Smart Economy and once a stiff competitor of Ethereum, has unveiled OneBand, a phygital NFT device. Neo unveils OneBand In a Medium post on April 22, Neo said OneBand is a physical ring cryptographically tied to a non-fungible token (NFT).  The physical ring and the NFT, Neo clarifies, are intrinsically linked since the ring is embedded with a near-field communication (NFC) chip and a censored BIP32 master key.  The BIP32 master key standard has been adopted broadly. It would allow NFT…

Bankman-Fried’s Bail Conditions Extended | Blockchain News

As a new development in the ongoing court action involving crypto millionaire Sam Bankman-Fried, his legal team has asked for a third extension on the execution of his updated bail terms. This information was revealed in a new legal filing. The petition was submitted to the court on April 19 in a file that was made in the Southern District of New York. The attorneys, Mark Cohen and Christian Everdell, have indicated that they have effectively enforced “all of the bail conditions set forth in the Order,” with the exception…

Republicans Seek to Repeal Biden’s Inflation Reduction Act in Exchange for Raising US Debt Limit – Economics Bitcoin News

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There has been a lot of commentary concerning the U.S. raising its debt limit, as Treasury secretary Janet Yellen said last month that a U.S. default would be “devastating,” and European Central Bank president Christine Lagarde warned it would be a “major disaster” if the U.S. defaulted on its obligations. It now appears that Republican politicians are willing to raise the country’s debt limit, but only if fellow lawmakers repeal the mandates on green energy and climate change in the Inflation Reduction Act. Debate Over Inflation Reduction Act Heats Up…

Zimbabwe’s central bank to issue gold-backed digital currency: Report

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The Reserve Bank of Zimbabwe is set to introduce a gold-backed digital currency to serve as a legal tender in the country. The move is a government initiative to stabilize the local currency from its depreciation against the United States dollar.  According to a report from local media Sunday Mail, the move will allow small amounts of Zimbabwe dollars to be exchanged to the digital gold token, enabling more Zimbabweans to hedge against the currency volatility. Central bank governor John Mangudya said the plan intends to “leave no one and…

US court sides with Yuga Labs, agrees RC BAYC are copycats

The United States District Court for the Northern District of California has sided with Yuga Labs, the creator of Bored Ape Yacht Collection (BAYC), in their case against Ryder Ripps and Jeremy Cahen. Yuga Labs wins case against Ryder Ripps In a partial summary judgment, ten months after Yuga Labs sued Ryder Ripps for his RC BAYC collection, Judge John Walter agreed with assertions that Ryder Ripps’ non-fungible token (NFT) collection confused consumers, unfairly reaped millions in profits from the BAYC brand, and caused reputational damage.  It is despite the defendants arguing that NFTs…

Chinese City to pay civil servants using digital yuan

Changshu City in Jiangsu Province, East China, will begin paying all public sector personnel in e-CNY, better known as digital yuan, from May 2023.  This is important in promoting the digital yuan, China’s official digital money. The decision will affect government personnel, teachers, healthcare professionals, journalists, technicians for accredited media outlets, and staff members of state-owned businesses. The introduction of digital yuan payments in Changshu City is a part of China’s more extensive initiatives to advance its centralized digital currency.  Changshu City has been promoting digital yuan pilot programs, and many consumption…

Value Locked in Defi Descends Below $50B Range 9 Days After 2023 High   – Defi Bitcoin News

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The total value locked in decentralized finance (defi) has descended below the $50 billion range after reaching a 2023 high of $53.63 billion on April 14. This shift has been felt across the board with the top 18 defi protocols recording losses during the past seven days, and the largest defi protocol by TVL size, Lido, losing 8.25% over the past week. 18 of the Top Defi Protocols Recorded Weekly Losses Crypto asset markets have experienced volatility in the past seven days, and on Sunday, April 23, 2023, the total…

EU approves MiCA, US crypto firms consider relocating amid regulatory uncertainty

This week, the crypto industry was largely dominated by regulatory developments. Industry leaders continued to express concerns about the regulatory climate in the United States, with some firms contemplating migrating in response to the Securities and Exchange Commission’s (SEC)crackdown. In contrast, the European Union had more clarity, as the parliament approved proposals in the Markets in Crypto Assets (MiCA) bill.  The SEC sustains regulatory efforts The SEC is unyielding in its efforts. On April 17, the agency declared its readiness to regulate decentralized finance (DeFi), which critics say would slow down or…