Day: May 2, 2023

Ava Labs founder awarded $3M in crypto defamation suit

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Ava Labs founder and CEO Emin Gün Sirer has reportedly won a defamation suit against a crypto influencer, awarding him $3 million in damages. The lawsuit stemmed from claims made in a February 2021 YouTube video by crypto influencer Emre Aksoy linking Sirer to an Islamist group the Turkish government calls the Fethullah Terrorist Organization (FETO). Askoy told his large YouTube following that Sirer was a group member, directing them to short the Avalanche (AVAX) token. According to Sirer, the defamation cost him millions and crashed the price of AVAX…

Over 225,000 bitcoin transactions are unconfirmed as Ordinals bloat mempool

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied There are over 225,000 unconfirmed transactions in the Bitcoin memory pool (mempool), pointing to increasing demand for the network, the latest data on May 2 shows. According to mempool.space data, more than 225,000 pending transactions are pushing the mempool’s size to over 580 MB, almost twice the 300 MB limit.  At this level, the number of unconfirmed transactions is at 2017 peaks when the mempool had over 200,000 pending transactions, leading to congestion. In some cases, transactions…

ByBit joins crypto exchanges offering crypto lending services

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Cryptocurrency exchange ByBit is the latest major platform to roll out an in-house cryptocurrency lending service for users. The Dubai-based exchange announced the launch of the service on May 2, delivering interest payouts to users that deposit cryptocurrency through the platform’s new offering. The service is touted to payout hourly interest payments from lending pools, while lenders can deposit and redeem loaned cryptocurrency tokens without lock-up periods. Meanwhile, borrowers on ByBit’s exchange can take out loans to tap into funds for a variety of trading options on the platform. Borrowers…

BP Stock Tanked Over 5% Despite Company Beating Q1 2023 Profit Expectations

Amid lower fossil fuel costs, BP’s profits tanked in comparison to the bumper profits recorded in 2022. On Tuesday, May 2, oil major British Petroleum (BP) reported stronger-than-expected first-quarter (Q1 2023) profits, and rising from the previous quarter i.e. Q4 2022. However, the numbers were down from the exceptional profits that the company recorded during a blockbuster 2022 when fossil fuel prices shot up significantly following Russia’s invasion of Ukraine. BP Q1 2023 Performance During the first quarter, the British energy giant reported an underlying replacement cost profit of $4.96…

Sotheby’s Launches Secondary Art-selling NFT Marketplace for Collectors & Artists

The new secondary art NFT marketplace by Sotheby’s also pays royalties from sales directly to the artists, from payments made by collectors. Sotheby’s has launched an on-chain non-fungible token (NFT) marketplace that facilitates the sale of secondary digital art items. According to Decrypt, the New York-based auction house now supports secondary NFT sales, allowing artists to transact directly with collectors. For example, interested collectors can list and make offers on work from select artists. The next evolution of #SothebysMetaverse is here! The most trusted and dynamic destination to collect, buy and sell remarkable…

Analysts Consider US National Security Policy a Pretext to Establish Trade Sanctions Against Other Countries – Economics Bitcoin News

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International analysts have called out the supposed use of the national security policy of the U.S. as a tool to justify the establishment of blockades and economic sanctions against countries like China and Russia. While U.S. Treasury Secretary Janet Yellen has recognized that a decoupling of the economies of the U.S. and China would be “disastrous,” the U.S. government is said to be putting its security policies over this concern. U.S. Using National Security Policy as Abusive Tool, Analysts Warn Several analysts have referred to the usage of the U.S.…

Bitcoin price sweeps lows, but analysis still predicts a $25K dive

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Bitcoin (BTC) fought for $28,000 support on May 2 after the month opened to multi-day lows. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price: “Big volatility on the horizon” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it returned to the $28,000 mark on Bitstamp. The previous day’s Wall Street open had brought the latest wave of downside volatility, with the pair dipping below $27,700. This followed a leg lower immediately after the weekly and monthly close, with $30,000 and upward feeling increasingly out of reach. Market…