Day: May 4, 2023

How are Bitcoin options traders positioning for the US banking crisis?

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For the past 14 days, cryptocurrency markets have been trading within an unusually tight 7.1% range. In other words, investors are unwilling to place new bets until there’s additional regulatory clarity, especially in the United States. The total crypto market capitalization fell by 1% to $1.2 trillion over the seven days ending May 4, primarily as a result of Bitcoin’s (BTC) 1.1% price decline, Ether’s (BTC) 0.2% loss, and BNB trading down 1.4%. Total crypto market cap in USD, 12-hour. Source: TradingView Notice that the exact same $1.16 trillion to…

El Salvador school program hits 1 BTC in donations

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There’s a beacon of light in the bear market tunnel. The El Salvador nonprofit program, “My First Bitcoin” (Mi Primer Bitcoin), raised over 1 Bitcoin (BTC) in donations-not from venture capitalists and investors–but from generous Bitcoin education advocates worldwide. Donations flooded in from Venezuelans, Poles and Canadians as 100s of people around the world sent Satoshis (small parts of Bitcoin) over the Lightning Work, to fund the expansion of My First Bitcoin’s Bitcoin Diploma program. We did it! We crowdfunded 1 BTC on @geyserfund in April A matching donation from…

A Comprehensive Look at the ‘Great Consolidation’ and Largest Bank Failures of 2023 – Finance Bitcoin News

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2023 has been a rollercoaster ride for the U.S. banking industry. The collapse of three major banks has sent shockwaves through the financial world, with their combined assets surpassing the top 25 banks that crumbled in 2008. The following is a closer look at what has triggered a ‘great consolidation’ in the banking sector, a recurring theme in the industry’s history over the past century. A Listicle of Bank Consolidation, Failures, and Issues Facing the U.S. Banking Sector The U.S. banking industry has taken a beating in 2023, with the…

The truth about ETH founders split and ‘Crypto Google’ – Cointelegraph Magazine

There’s a narrative that’s grown up around Ethereum’s two most important co-founders, Joe Lubin and Vitalik Buterin, to explain how they went in different directions almost a decade ago. It suggests the pair fell out over the blockchain’s future direction, with the idealistic 20-year-old Buterin determined to turn Ethereum into a nonprofit foundation, while Lubin and others wanted to commercialize the technology via a for-profit company. “That wasn’t really what happened,” the billionaire founder of Ethereum infrastructure and software firm ConsenSys tells Magazine during an in-depth interview in Tel Aviv.…

Bitget Launches Blockchain4Youth Initiative | Blockchain News

Bitget, a cryptocurrency derivatives exchange, has announced a new corporate social responsibility project, Blockchain4Youth, aimed at promoting cryptocurrency education among the younger generation. The initiative will allocate $10 million over five years towards providing blockchain courses and certifications through Bitget Academy and hosting campus lectures in partnership with universities worldwide. Bitget will also collaborate with other leading blockchain firms to incubate innovative projects by young entrepreneurs and host U30 (Under the age of 30) hackathons to identify the most promising ones. Blockchain4Youth will commence this month with a series of…

Biden Administration Proposes 30% Tax on Power Used for Cryptocurrency Mining

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The Biden administration has proposed a 30% tax on the electricity used for cryptocurrency mining. This move is aimed at reducing the negative environmental and economic impact of the industry. The energy requirements for cryptocurrency mining are substantial and contribute to increased greenhouse gas emissions, elevated energy prices, detrimental effects on the environment, quality of life, and electricity grids. The proposed excise tax, Digital Asset Mining Energy (DAME), would ensure that mining firms pay the total cost they impose on others. However, some experts have raised concerns that such a…

Crypto Financial Product Firm OpenTrade Raises Over $1.5M Round led by Sino Global

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Businesses show interest in Web3, despite U.S. regulatory challenges

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Consensus, the annual crypto and blockchain conference, attracted over 15,000 attendees, 220 sponsors and 410 speakers to its 2023 edition in Austin, Texas, despite recent regulatory struggles around cryptocurrency adoption in the United States.  The turnout at Consensus 2023 demonstrated that U.S.-based companies and international organizations are still very much interested in implementing Web3 technology into their business models. Caitlin Long, founder and CEO of Custodia Bank — a Wyoming-based digital asset bank — told Cointelegraph that the conference attracted serious ecosystem participants, saying, “We’ve seen during crypto winters before…