Day: May 6, 2023

Texas House Advances Gold-Backed Digital Currency Bill – Economics Bitcoin News

boss

Texas has taken its first steps in order to approve a bill that would issue a 100% gold-backed digital currency. If enacted as law, the bill, which is being discussed by a Texas House committee, would create an electronic system for users to transact and pay with this digital currency and would also allow them to execute redemptions for the gold specie, or coins, backing it. Texas House Committee Passes Gold-Backed Digital Currency Bill A Texas House committee has taken the first steps in the discussion of a bill that…

Promoters of TruthGPT Coin and Elon Musk AI Token receive cease and desist order

The promoters of the TruthGPT Coin and Elon Musk AI Token have been served with a cease and desist order by the Texas State Securities Board. The order comes as an attempt to stop what they allege is an illegal securities scam designed to profit from the rising interest in artificial intelligence (AI). According to the Emergency Cease and Desist Order, Horatiu Charlie Caragaceanu and related companies, including Hedge4.ai and The Shark of Wall Street, have misled investors with their TruthGPT Coin and Elon Musk AI Token promotions. The promoter…

Saudi Arabia Joining BRICS Would Accelerate Chinese Yuan’s Use as Trading Currency, Says Professor – Economics Bitcoin News

Professor Ashok Swain of Uppsala University’s Department of Peace and Conflict Research says Saudi Arabia joining the BRICS economic bloc “would accelerate the bilateral trading being conducted using the yuan as the trading currency. ” How Saudi Arabia Joining BRICS Could Boost Use of Chinese Yuan Ashok Swain, a professor of peace and conflict research at Uppsala University in Sweden, told Al-Monitor last week that Saudi Arabia joining the BRICS economic bloc would accelerate the use of the Chinese yuan as a trading currency. Professor Swain is head of Uppsala University’s…

Pudgy Penguins signs with WME, Bitblox to make Web3 gambling games and more….

boss

Blue chip nonfungible token (NFT) project Pudgy Penguins has signed a representation deal with major Hollywood talent agency William Morris Endeavor (WME). According to an announcement via Twitter on May 5, Pudgy Penguins is looking to spread its intellectual property across film, TV, and gaming. We’re proud to announce that @WME will be representing us as our official talent agency. Together, with WME’s relationships in film, TV, and gaming, we will focus on strategic partnerships that help Pudgy Penguins reach new audiences. pic.twitter.com/TtbkLexxAV — Pudgy Penguins (@pudgypenguins) May 5, 2023…

U.S. Justice Department Investigating Binance For Russia-Related Sanctions Violations: Bloomberg

Additionally, in early May 2023, Israel reportedly revealed it had seized roughly 190 Binance accounts with alleged ties to terrorist groups, including two accounts to ISIS. Since neither Israel nor Binance explicitly said Binance had cooperated, it isn’t clear how Israel seized accounts on Binance without Binance’s cooperation, given Binance isn’t obliged to adhere to Israeli laws. Source

South Korea and US face off over Do Kwon’s extradition 

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Reports indicate that South Korean prosecutors are adamant that charging Do Kwon in his home country is the best way to serve justice to Terra network victims.  South Korea wants Do Kwon South Korean and United States prosecutors want to administer justice, waiting for Montenegro authorities to extradite him to their respective countries. Mr. Kwon was arrested in Montenegro in March and has been held there since.  A South Korean prosecutor charged with investigating Do Kwon…

Fed Chair Warns of ‘Uncertain and Adverse’ Consequences of US Debt Default — ‘We’d Be in Uncharted Territory’ – Bitcoin News

boss

Federal Reserve Chairman Jerome Powell has warned of “highly uncertain and adverse” economic consequences if the U.S. defaults on its debt obligations. “No one should assume that the Fed can protect the economy from the potential short and long-term effects of a failure to pay our bills on time,” he further cautioned. Fed Chair Jerome Powell’s Debt Default Warning Federal Reserve Chair Jerome Powell has warned of the potential consequences of a U.S. debt default. “We’d be in uncharted territory and the consequences on the U.S. economy could be highly…

Ethereum gas fees spike to a one-year high amidst PEPE craze

On-chain data shows 31,700 ethereum (ETH) have been burned in the last week. The spike is due to the latest mania over pepecoin (PEPE). This development has pushed Ethereum’s transaction costs even higher. At the beginning of this week, the daily median gas price rose to a 12-month high of 87 gwei – equivalent to one billionth of an ether (ETH). 31.7K $ETH has been burned in the past seven days. To put that in perspective, since the merge (231 days ago), 152K ETH total has been burned. That’s ~21%…

Crypto Miners Pay Kazakhstan $7 Million in Taxes Amid Uncertain Future for Sector – Mining Bitcoin News

boss

The government of Kazakhstan has collected over $7 million in taxes this and last year from enterprises mining cryptocurrency in the country. The news comes amid growing regulatory pressure that is limiting the industry’s access to low-cost energy while increasing its tax burden. Miners Face Higher Expenses, More Challenges Under New Legislation Kazakhstan’s coffers have received 3.07 billion tenge (almost $6.9 million) in tax payments from entities involved in the minting of digital currencies in 2022, the State Revenue Committee of the Ministry of Finance announced, quoted by local media…