Day: May 12, 2023

BlockFi Custodial Customers to Receive $300M in Repayment, While BIA Holders Risk Losing Investment to Company’s Creditors

A judge has approved repayment for BlockFi custodial wallet holders but said interest-bearing funds still belong to the bankrupt company.  BlockFi custodial wallet users could receive a massive $300 million repayment from the bankrupt digital asset lender. On Thursday, a New Jersey judge ruled that the assets locked in BlockFi’s custodial accounts belong to clients rather than the company’s estate. However, the judge further ruled that another $375 million that users sought to transfer from interest-bearing accounts following November’s withdrawal suspension still belong to BlockFi. As Judge Michael Kaplan put…

Inflation Expectations of Eurozone Consumers ‘Increased Significantly,’ ECB Says – Finance Bitcoin News

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Consumers in the euro area have sharply raised their expectations about inflation in the coming months, the European Central Bank revealed. Survey data showing this comes after the monetary authority slowed the pace of its rate hikes last week while indicating that it’s still early for a pause. ECB Registers Heightened Consumer Expectations About Inflation Europeans believe inflation will be around 5% over the next 12 months with their median expectations rising “significantly” in March from 4.6% in February, the European Central Bank (ECB) announced on Thursday, quoting its latest…

Bitcoin enters $26K ‘bearadise’ as BTC price approaches 2-month lows

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Bitcoin (BTC) neared two-month lows on May 12 amid fears that a “head-and-shoulders” pattern would put bears ahead. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analysis of BTC price: “Welcome to bearadise” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $26,100 on Bitstamp — its lowest since March 17. Despite encouraging macroeconomic conditions for risk assets, Bitcoin failed to capitalize on the potential for gains as bid liquidity headed lower. “Welcome to bearadise,” on-chain monitoring resource Material Indicators summarized. A chart uploaded to Twitter the day before showed…

Bitcoin (BTC) Price Tanks Under $27,000 amid Rising US Regulatory Pressures

Amid the US regulatory crackdown and the fall of the crypto-friendly banks recently, the lack of liquidity has become a major issue currently in the market. The world’s largest cryptocurrency Bitcoin (BTC) continues to face more and more selling pressure as US regulatory crackdown mounts further. In the last 24 hours, the BTC price has dropped by over 2.98% and is currently trading at a price of $26,654 with a market cap of $516 billion. The latest drop in the Bitcoin price comes along with a market-wide correction with the…

MetaMask Adds Support for US-based Users to Purchase ETH via PayPal

MetaMask has been focused, primarily, on expanding its reach and boosting global crypto adoption. Crypto wallet MetaMask has begun rolling out PayPal-powered Ether (ETH) purchases to all its US-based users. Although it added the PayPal integration to its software wallet last December, the feature was not immediately available to all users in the US. However, the latest reports suggest that all users in the United States may now seamlessly purchase and transfer ETH directly from their MetaMask mobile apps. The rollout has been confirmed by MetaMask to be a first…

Meta Reveals New AI Services for Ad Campaigns

Meta explained that AI Sandbox and Advantage service offerings would ensure enhanced and seamless ad campaigns.  Meta Platforms Inc (NASDAQ: META) recently uncovered several new artificial intelligence (AI) resources and services for advertisers. On Thursday, the Menlo Park-based tech giant announced a veritable AI “testing playground” called AI Sandbox to help advertisers build campaigns. By trying out new generative AI-powered ad tools in the Meta-enabled AI Sandbox, advertisers will have access to several tools. These include text variation (generating multiple text versions for emphasis), background creation (generating background images from text…

Crypto VCs made $2.6B worth of deals in the first quarter of 2023

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While the crypto space still suffers a bear market, venture capital (VC) firms have still managed to make a number of deals at the start of 2023, proving that the space is very much alive even in what many would call a “crypto winter.” According to PitchBook’s Crypto Report for the first quarter of 2023, crypto companies were able to raise $2.6 billion across 353 investment rounds. While this proves that the space is still moving, it’s obvious that it’s not as strong as it used to be. The report…

French Crypto Trader Jailed for 18 Months for Buying a Ferrari With Bitcoin – Regulation Bitcoin News

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A French crypto trader, Thomas Clausi, is currently jailed in Morocco where he was convicted of the crime of purchasing a Ferrari using bitcoin. Clausi’s arrest and subsequent jailing came after a woman, who sold him a Ferrari for $440,000 in April 2021, filed a complaint against the crypto trader when the price of the crypto asset had dropped to just over $30,000. Crypto Trader Ordered to Pay Fine of $3.7 Million A 21-year-old Frenchman and crypto trader, Thomas Clausi, is currently serving a jail term in Morocco for allegedly…

Lufthansa, Eurowings, other travel industry players push forward with Web3

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After the recent launch of the Camino Network travel-focused blockchain, legacy travel companies are looking toward a Web3 future.  Cointelegraph spoke with executives at Europe-based airlines Lufthansa and Eurowings — two of the first companies to use the Camino Network — to understand how Web3 integrations bring this industry to its next generation. Johannes Walter, the head of channel partners at Lufthansa Group, said he believes “decentralization and tokenization” will create opportunities for new business models and relationships, “from building more direct, strategic partnerships and improving transparency to creating new revenue…

Gbitcoins – Providing Top-Notch Cloud Mining Services – Sponsored Bitcoin News

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sponsored Cloud mining is one of the newest, most innovative developments in the cryptocurrency space in recent years. It provides an affordable and more accessible entry point into the world of crypto mining. Various cloud mining sites have become popular as the demand for cryptocurrency mining grows. However, among the cloud mining sites that provides convenience, affordability, efficiency and flexibility, one name stands out – Gbitcoins Sustainable and Affordable Cloud Mining Services from Gbitcoins Founded back in 2016, Gbitcoins is a cloud-mining platform that has been gaining a reputation for…