Day: May 22, 2023

It’s Now Too Difficult To Run a Centralized Crypto Exchange, Says Hotbit As It Shuts Down

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Hong Kong-based cryptocurrency trading platform Hotbit announced today that it will stop all operations on May 22, 2023. In a new announcement, Hotbit, which had 5 million users, cites deteriorating operating conditions, crypto industry changes, and risk management concerns as their motives for shutting down. “This decision is based on three reasons: Firstly, the deterioration of the operating conditions. After the Hotbit management team was forced to suspend operations for several weeks due to the investigation in August 2022, the industry has experienced a series of crises, including the collapse of…

Why the Biggest Emerging Markets Are Turning to Crypto

Throw in the increasing probability of significant currency turmoil ahead in emerging countries’ economies, inflationary pressures and a strong dollar, and, in turn, the likelihood of political turmoil, and you can see how the “insurance” and “hedge” qualities of crypto assets such as BTC and stablecoins become even more compelling. Monetary liquidity headwinds may be significant, but they are not the whole crypto market story. Source

Dash (DASH) Blockchain Halts, Binance Pool Suspends Mining Rewards

Several hours later, Dash Core developer Pasta tweeted that the devs had identified issues and were working on a fix. “There are two options we are investigating, and everyone is focused on promptly resolving this issue,” Pasta wrote, adding that the planned release of the latest Dash Core client update, v19, might be delayed to resolve the issues first. Source link

Glassnode says big bitcoin price swings may be coming

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Glassnode, a prominent analytics firm, has recently shared its insights on Twitter regarding the price dynamics of bitcoin, the leading cryptocurrency by market cap. According to Glassnode analysis, bitcoin has displayed exceptional stability over the past week, with a narrow trading range of 3.4%. This noteworthy consolidation phase represents the tightest range observed in the past three years. Drawing parallels to similar market consolidations in July 2020 and January 2023, Glassnode’s experts believe that significant market…

Web3 Educational Company Upstream Launches My First DAO Course

“There are a lot of concepts around starting online communities that people don’t understand, such as tokenomics, governance and voting,” said Taub. “That’s also one of the reasons why it’s harder on adoption … I think putting together an amazing course about how to do it and why to do it will just unlock so many people’s brains.” Source

Bitcoin’s role as a crisis hedge and the implications for the USD

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In a recent video posted by popular cryptocurrency YouTuber, CryptosRUs, gave a comprehensive analysis of current economic events in the U.S. and their potential implications on the crypto market. US debt ceiling and economic uncertainty A pressing issue in the U.S. is the stalemate over the debt ceiling, a legal limit to the amount of money the federal government can borrow to cover its existing obligations. CryptoRUs warns that failure to increase this limit could lead…

Digital Currency Group’s failure to pay $630m raises concerns

Genesis Global Capital, the now bankrupt lending arm of Digital Currency Group (DCG), has failed to pay approximately $630 million due to creditors, leading to discussions among stakeholders about a potential default. The situation highlights the challenges faced by the crypto industry and raises questions about the financial stability of other companies, including those affected by the FTX collapse. DCG’s non-payment and consideration  Digital Currency Group, the parent company of Genesis Global Capital, has not fulfilled its obligation to pay around $630 million, which was due last week. This development…

First Bitcoin Tower to Be Built in Dubai

The Bitcoin Tower will be a center that will host blockchain conferences and also promote AI and cryptocurrency initiatives. The upcoming COP28 Summit scheduled for Dubai has inspired the construction of a Bitcoin Tower, a Bitcoin-shaped and Bitcoin-themed hotel in the heart of the United Arab Emirates city. 40-story Monument to Bitcoin The Bitcoin Tower will be a 40-story architectural monument that will represent the values that Bitcoin has bestowed on mankind. A May 21 release by Metaverse Investment LLC, the company behind the concept of the Bitcoin hotel and…