Day: May 1, 2023

Bitcoin has had four months of growth despite banking crisis

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin has had another positive month, making April the fourth consecutive month of gains, according to data from Coinglass. Bitcoin’s performance for the four months comes amidst a banking crisis and reveals that the closure of Silvergate and Silicon Valley didn’t affect bitcoin. Bitcoin’s current bull market compares to a recovery in 2019 According to data from Coinglass, as of April 28, bitcoin had another successful month, marking its fourth straight positive month. The last time…

Bhutan spends 5% of its GDP on mining bitcoin

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Concealed amidst the grandeur of the Himalayas, Bhutan, the quaint nation, harnesses its plentiful hydroelectric capabilities, comprising 30% of its GDP, to electrify the households of nearly all its 800,000 inhabitants. More interestingly, it spent 5% of its GDP to buy bitcoin (BTC) mining equipment. Over the past few years, Bhutan’s administration has furtively leveraged these reserves to fuel a concealed bitcoin mining endeavor. In a recent report, Forbes revealed that Bhutan had entertained the idea…

Jack Dorsey-Backed Bitcoin Legal Defense Fund Supports Open Source Developers in Lawsuit With Craig Wright – Featured Bitcoin News

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Bitcoin Legal Defense Fund (BLDF) recently delivered on its promise to fund the legal costs of 11 Bitcoin developers that are the target of the self-proclaimed Bitcoin inventor Craig Wright’s lawsuit. According to Alex Morcos, the “mission [of BLDF] is to safeguard innovation by shielding developers from legal intimidation.” The Future of Open-Source Software Development Bitcoin Legal Defense Fund (BLDF), a Jack Dorsey-backed fund, has said it will make its services available to 11 Bitcoin developers named in a lawsuit filed by the self-proclaimed Bitcoin creator Craig Wright. According to…

Coinme Fined $4M by U.S. SEC Over Unregistered UpToken Offering

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CryptoX is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CryptoX employees, including editorial employees, may receive exposure to DCG equity…

2nd biggest US bank failure — 5 things to know in Bitcoin this week

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Bitcoin (BTC) starts a new week digesting major macroeconomic news as the United States sees the second-largest bank failure in its history. After a sideways weekend, BTC/USD was already volatile into the new weekly and monthly candle as the downside kicked in. After steadying below $29,000, BTC price action is already facing more potential pressure, with First Republic Bank being placed in public receivership and taken over by JPMorgan Chase. The move, announced during Asia trading but before the Wall Street open, precedes an already heavy week in which the…

Bitcoin miner reserves drop by $58m in four days 

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied On-chain data shows that bitcoin miners’ BTC reserves have dropped significantly in the past four days, with miners selling over 2,000 BTC worth $58 million. According to CryptoQuant on-chain data posted on Twitter by crypto sleuth @ali_charts, bitcoin miners have sold their coins in the last four days, triggering a steep drop in their BTC reserves. Bitcoin miners reportedly sold approximately 2,000 BTC valued at around $58 million in the past four days.  Interestingly, the post…

JPMorgan to acquire troubled First Republic Bank

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The American banking giant JP Morgan Ch is set to acquire all the assets of First Republic Bank (FRC) after early efforts to rescue it failed. JPMorgan, along with multiple other banks, submitted a bid to acquire the assets of troubled FRC on April 29. The California Department of Financial Protection and Innovation closed FRC on May 1 and entered into an agreement with the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC then entered into a purchase and assumption agreement with JPMorgan Chase Bank to protect depositors.  JPMorgan…

Latam Insights — Steve Hanke Advocates Dollarization in Argentina, Bitcoin City Plans Unclear in El Salvador, Sunacrip Implicated in Venezuela Layoffs – Bitcoin News

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Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, economist Steve Hanke calls to dollarize Argentina, Bitcoin City plans are still not formalized in El Salvador, and Venezuelan crypto watchdog Sunacrip is allegedly involved in mass layoffs. Steve Hanke Proposes to Dollarize Argentina Steve Hanke, economist and professor of applied economics at Johns Hopkins University, has favored the proposal of dollarizing the Argentine economy in order to put order to the financial crisis of…

Nigeria’s SEC Plans to Allow Asset-Backed Tokens on Digital Exchanges But Not Crypto: Bloomberg

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CryptoX is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CryptoX employees, including editorial employees, may receive exposure to DCG equity…

What is Immutable, explained

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Immutable is a game development platform that simplifies building Web3 games on the Ethereum blockchain.  Headquartered in Sydney and co-founded in 2018 by James Ferguson, Robbie Ferguson and Alex Connolly, this leading Web3 gaming platform is focused on a mission to bring digital ownership to players by making it easy to build Web3 games for mainstream adoption. Immutable is funded and backed by prominent crypto VC funds and transformational tech investors like Bitkraft Ventures, King River Capital, AirTree, Temasek, Coinbase and more.  The Immutable platform empowers gaming studios and developers…