May 3, 2023

Digitalization won’t displace commercial bank money any time soon: Moody’s

May 3, 2023 boss

Digitalization is shaping the future of money, but traditional central bank money housed in commercial banks will remain dominant, Moody’s predicted in a new report. Essentially, trust trumps efficiency, it said, after surveying a wide range of emerging or potential forms of money. The monetary landscape is becoming fragmented, Moody’s said, but many new payment solutions support the use of commercial banks money. For example, “We believe that digital wallets […] Will support the dominance of commercial bank money as long as bank accounts remain their primary source of digital…

Cathie Wood’s ARK Invest Rapidly Accumulating Coinbase (COIN) Stock As Crypto Exchange Goes International

May 3, 2023 boss

Cathie Wood’s ARK Invest is ramping up its acquisition of Coinbase (COIN) stock as the crypto exchange platform expands outside of the US. New data from Cathie’s Ark, a platform that tracks the investment of ARK Invest, reveals that the firm made three separate purchases of COIN on May 2nd that amounted to $7.35 million. The day before, data shows ARK making three purchases worth about $8.4 million. The accumulation spree coincides with Coinbases’s recent announcement that it will be expanding its services to the world due to regulatory uncertainty…

RFK Jr. Raises Crypto Mining Tax, Regulations as Issues in Opening Days of 2024 U.S. Presidential Race

May 3, 2023

CryptoX – Cryptocurrency Analysis and News Portal Kennedy, an environmental lawyer who is the nephew of former President John F. Kennedy and son of former U.S. attorney general and senator, Robert F. Kennedy, has raised several points about the digital assets industry in the early days of a 2024 presidential contest that hasn’t yet begun in earnest. Source The post RFK Jr. Raises Crypto Mining Tax, Regulations as Issues in Opening Days of 2024 U.S. Presidential Race appeared first on CryptoX. CryptoX Portal

Coinbase Losses Expected to Narrow; Analysts Seek Details About International Exchange

May 3, 2023

Traders of U.S.-based crypto exchange Coinbase (COIN) will likely get some relief when the company reports first quarter earnings for 2023 on Thursday. Source

The Fed has little ammo left as $30K Bitcoin price becomes key battle line

May 3, 2023

The Bitcoin price successfully defended the $28,000 support on May 2, but it has yet to prove the strength needed to reclaim the $29,200 level from April 30. $30K becomes crucial for Bitcoin bulls Some analysts will pin the recent downtrend on the expectation of an interest rate increase by the United States Federal Reserve on May 3, but in reality, the market is pricing 92% odds of a modest 25-basis-point increase to its highest level since September 2007. $DXY up/#Bitcoin down on yesterdays PMI data release. Market is now…

The Fed has little ammo left as $30K Bitcoin price becomes key battle-line

May 3, 2023 boss

The Bitcoin (BTC) price has successfully defended the $28,000 support on May 2, but has yet to prove the strength needed to reclaim the $29,200 level from April 30. $30K becomes crucial for Bitcoin bulls Some analysts will pin the recent downtrend to the expectation of an interest rate increase by the U.S. Federal Reserve (Fed) on May 3, but in reality, the market is pricing 92% odds of a modest 25 basis point increase to its highest level since September 2007. $DXY up/#Bitcoin down on yesterdays PMI data release.…

Aragon Bans at Least 6 DAO Members During Crypto Treasury Discussion

May 3, 2023

Wismerhill said there are “zero similitudes between” Rook, a project whose product development has been stagnant for months, and Aragon, which is actively building and also has mechanisms to return value to its token holders. “Aragon is only interesting because they could do buybacks” of ANT tokens, he said. Source

Stacks rallies 11% as bitcoin, solana fall

May 3, 2023 boss

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Despite widespread losses in the cryptocurrency market on May 3, stacks (STX) is up 11% on the last trading day, outperforming bitcoin and most crypto assets. Stacks roars The cryptocurrency market is retracing, with some top coins, such as bitcoin (BTC) and solana (SOL), reversing gains. To illustrate, BTC is currently down 1.22%, holding the demand zone at $28,000. Meanwhile, SOL fell 4.02% as ethereum (ETH) dropped 0.2% in the same period at the time of…

French Senate proposal would allow influencers to promote cryptocurrency

May 3, 2023 boss

The French Senate’s Committee on Economic Affairs recently approved an amendment to pending legislation allowing registered cryptocurrency companies to hire social media influencers for advertising and promotional purposes. According to a translation of the amendment provided by Bing, the new wording would allow companies that are registered with France’s Autorité des Marchés Financiers (AMF) to hire influencers for their products: “The current wording is more restrictive than the existing provisions in the Consumer Code, since it excludes the possibility for digital asset service providers (PSAN) registered with the Autorité des…