Day: May 18, 2023

Elon Musk’s latest tweet boosts DOGE price

Dogecoin, one of the top meme coins in the cryptocurrency market, has experienced a significant rise in price thanks to “dogefather,” Elon Musk’s response to a dog-themed tweet. Elon Musk is at it again  Elon Musk, known for his interest in cryptocurrencies and meme culture, recently took to Twitter to respond to a dog-themed tweet posted by user @EPavlic. In the tweet, @EPavlic shared a short video of her dog, praising its remarkable hair. Musk’s response, in the form of a dog-themed meme, caught the attention of the cryptocurrency community…

SEC Hinman docs could become public by June 6, lawyer suggests

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Defense lawyer and former federal prosecutor, James K. Filan, expects the infamous Hinman Speech documents to be released to the public by June 6, citing a previous court order. The Hinman documents relate to a 2018 speech from former Securities and Exchange Commission (SEC) corporation finance division director Bill Hinman, who essentially stated that Ether (ETH) was not a security. The documents involve the SEC’s internal discussion and deliberations around this speech. In a May 17 Twitter thread, Filan, who has been actively following the SEC vs Ripple case over the…

Korean lawmakers rally towards crypto rules in May after grisly murder case: Report

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Lawmakers from South Korea are pushing to enshrine stricter regulation of digital assets in the wake of a gruesome murder case involving digital assets.  According to a May 18 Bloomberg report, a Korean woman was abducted on March 29 and later murdered in a dispute believed to have stemmed from a disagreement over cryptocurrency-related losses — adding to a string of digital-asset-related scandals including Do Kwon’s Terra Money ecosystem collapse in May last year. The recent murder case has reportedly added urgency for lawmakers to expedite the nation’s first standalone crypto…

BitBoy unexpectedly dumps BEN meme token stash for $78k

Ben Armstrong, the YouTube influencer also known as BitBoy, has sold his BEN tokens for 43 ethereum (ETH) less than a week after telling followers that he was committed to holding them for six months to make critics “dumb again”. BitBoy dumps BEN On-chain data from May 17 shows that the influencer, who rose to fame on YouTube, where he has over 1 million followers, offloaded all his BEN holdings in a series of transfers on May 17.  He earned roughly 43 ETH from his transactions, worth roughly $78,000 at current rates.…

Revolut launches business offering in Australia, seeks banking license

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Crypto-friendly fintech firm Revolut has launched international payments-focused business accounts for clients in Australia, as it reportedly works to secure a banking license down under. The London-based firm offers a range of fiat payment services for clients in Europe and Australia. It also offers crypto services, including the buying and selling of a number of crypto assets including Bitcoin (BTC), Ripple (XRP) and Ether (ETH). In certain regions, it also provides access to crypto-staking. Speaking with The Australian on May 17, the CEO of Revolut’s Australian unit, Matt Baxby suggested…

There’s a growing case for allowing crypto firms to bypass banks

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Within 11 days in March, four banks in the United States and one in Switzerland collapsed. First Republic Bank followed in May. Three of the four largest-ever U.S. bank failures occurred in those two months. It was a painful reminder that banks bear significant risks that can quickly spill over to other industries. Ironically, despite a heavy focus on how the crypto-asset sector could introduce risks to traditional finance, we instead experienced bank failures becoming a critical stability risk to the crypto-asset industry. Financial regulation should aim to mitigate financial…

Binance Australia suspends AUD fiat services, citing issues with third party

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Cryptocurrency exchange Binance Australia has informed users it has suspended Australian dollar services as its local payment services provider has seemingly stopped support for the exchange. On May 18, Binance Australia tweeted that AUD PayID deposits were suspended and bank transfer withdrawals will also be impacted “due to a decision made by our third-party payment service provider.” “We understand from our third party payment service provider that Bank Transfer withdrawals will also be impacted and we will advise users on timeline when this is confirmed,” it added. Fellow Binancians, We…

Australia marks first FX transaction using a CBDC as eAUD pilot continues

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Australia has successfully made its first foreign exchange transaction using eAUD as part of a live pilot for the country’s potential central bank digital currency (CBDC). It comes amid a rising interest from countries around the world to learn about or launch central bank-issued digital currencies. In a statement, blockchain infrastructure provider Canvas said on May 17 local time, crypto fund managers DigitalX and TAF Capital traded eAUD against the stablecoin USD Coin (USDC). Canvas reported the transaction was settled instantly and touted it as a success over what it…

Biden’s Tough Talk, USDT’s BTC Bet Not Moving Crypto

Bitcoin (BTC) continued to drift downward, slipping just below $27,000 as investors keep close attention on the debt ceiling negotiations in Washington. Defiance ETFs CEO Sylvia Jablonski and Galaxy Digital global head of trading Jason Urban shared their insights on the current state of the crypto markets. Plus, Pudgy Penguins CEO Luca Netz discussed the NFT brand’s latest $9 million funding round. Also, New York University Professor Emeritus Gary Marcus shared his thoughts on artificial intelligence guidelines, following a Senate hearing with OpenAI CEO Sam Altman among those testifying. Source

DRC20 Tokens Take Dogecoin Community by Storm, Driving Record-Breaking Daily Transactions on the Network

With the BRC20 token economy maintaining a market capitalization of nearly $500 million, the introduction of the DRC20 token standard has sparked a flurry of excitement within the Dogecoin community. The emerging token type has ignited a surge of activity, leading to a substantial increase in daily transactions on the Dogecoin blockchain. Specifically, on Wednesday, May 17, 2023, the network recorded a tally of over 820,000 confirmed transactions so far. Dogecoin’s DRC20 Token Standard Sparks Surge in Daily Transactions After witnessing the success of the Ordinal inscription and BRC20 trend…