Day: May 19, 2023

Bitcoin maximalism cool in 2023? Joe Hall shares his thoughts

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In this episode of Hashing It Out, recorded on the eve of Bitcoin 2023 in Miami, Cointelegraph’s Elisha Owusu Akyaw spoke to Cointelegraph journalist Joe Hall about what it means to be a Bitcoin (BTC) supporter and the current state of the Bitcoin network. The discussion ranged from Bitcoin maximalism and living on the Bitcoin standard, to Bitcoin Ordinals, BRC-20 tokens and the BTC price. Hall’s first interaction with Bitcoin was through buying things on the internet. His initial impression of the first cryptocurrency was that it was difficult to use…

First Mover Americas: Litecoin Might Be Trading at a Discount

CryptoX – Cryptocurrency Analysis and News Portal The latest price moves in bitcoin (BTC) and crypto markets in context for May 19, 2023. First Mover is CryptoX’s daily newsletter that contextualizes the latest actions in the crypto markets. Source The post First Mover Americas: Litecoin Might Be Trading at a Discount appeared first on CryptoX. CryptoX Portal

Bitcoin price risk? US debt deal to trigger $1T liquidity crunch, analyst warns

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Bitcoin (BTC) stares at potential losses heading into the third-quarter of 2023 after U.S. lawmakers will likely reach an agreement on raising the debt ceiling. A $1 trillion liquidity hole ahead Raising the debt ceiling means the U.S. Treasury could issue new bonds to raise cash to meet its previous obligations. As a result, the cash pile at the Treasury General Account could increase from $95 billion in May to $550 billion by June and to $600 billion in the three months afterward, according to the department’s recent estimates. U.S.…

Blockchain Plans Scrapped By Australian Stock Exchange

Blockchain technology has been sidelined by the Australian Securities Exchange (ASX), a prominent entity in the nation’s financial domain, as it departs from its original intentions of utilizing blockchain to reconstruct its software platform. This unexpected move signifies a momentous shift in the perception of a once-celebrated concept that rose to prominence alongside the growing popularity of cryptocurrencies. The decision to abandon blockchain rebuild marks a significant turning point, highlighting the challenges and limitations that have become apparent during its implementation journey. Blockchain Ditched: ASX Explores New Paths For Software…

HashKey Group to Raise Funds at $1B Valuation

HashKey Capital emphasized that it plans to direct the investment into Web3 initiatives in order to broaden its crypto exposure. Crypto investment company HashKey Group is looking towards leveraging Hong Kong’s digital assets efforts to raise funds at a valuation of over $1 billion to attract potential investors. The Chinese Special Administrative Region is finalizing digital asset licensing legislation with the goal of becoming a worldwide crypto hub. Hong Kong has been making efforts to promote and regulate the digital asset industry, which could create a favorable environment for firms…

MicroStrategy Executive Chairman Michael Saylor Says Firm Exploring Use Cases for Bitcoin Ordinals

MicroStrategy’s Michael Saylor recently suggested that Bitcoin Ordinals could immensely benefit the crypto ecosystem.  MicroStrategy Incorporated (NASDAQ: MSTR) co-founder and Executive Chairman Michael Saylor has discussed his company’s work with Bitcoin Ordinals. In a media session, Saylor revealed that his company was exploring how the Bitcoin-backed non-fungible tokens (NFTs) could lead to software innovation. According to the innovative crypto executive, MicroStrategy was interested in assessing the application development potential of Bitcoin Ordinals. Although Saylor did not expressly state the Ordinal use cases that MicroStrategy looked to tap into, he pointed out inherent Bitcoin blockchain diversity.…

Navigating the future amid global de-dollarization

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It is an empirical fact that the United States dollar is continuing to lose its dominant role as the global reserve currency, but what might happen to the stablecoin market should it be superseded? According to data from the International Monetary Fund, the U.S. dollar now accounts for just over 58% of global foreign exchange reserves, a considerable decrease from the 71% share it had in 2001. Global foreign exchange reserves from 1999 to 2021. Source: IMF Jeremy Allaire — the CEO of USD Coin (USDC) issuer Circle — highlighted…

Fighting fake credentials and unfair wages

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The rise of fake credentials and teachers being undervalued and underpaid are some of the recurring problems that the education sector continues to face. Cointelegraph went on a mission to see if nonfungible tokens (NFT) can provide a solution to these headaches found in the education sector.  One of the pressing issues in education is fake credentials. On May 18, the Washington Post reported that there are about 2,800 people who purchased their credentials without attending the proper classes. They were able to pass the National Council Licensure Examination in…

Filecoin Foundation Lashes Out at SEC for Classifying FIL as Security

Grayscale also noted that it doesn’t believe that Filecoin is security and seeks to respond to the SEC staff with a legal basis for their position. Earlier this week, the US Securities and Exchange Commission (SEC) classified the cryptocurrency Filecoin as a security and even asked asset manager Grayscale to pull up their application for the Grayscale Filecoin Trust. However, Filecoin has rejected the observation from the SEC adding that FIL was not a security. The Filecoin Foundation described the blockchain network as “a decentralized, peer-to-peer network for storing files”.…