ALSO: The stablecoin supply ratio has dropped 11% over the past 11 days, suggesting that buying power for stablecoins is increasing, writes CoinDesk analyst Glenn Williams. Source
The number of Bitcoin (BTC) wallet addresses holding one whole BTC or more has surpassed the one million mark. The one million wholecoiner milestone was reached on May 13, according to data from Glassnode. Number of Bitcoin wallets holding more than 1 Bitcoin since inception. Source: Glassnode. As the price of Bitcoin fell more than 65% over the course of last year, the number of wallet addresses holding one Bitcoin or more spiked, with the most notable surges occurring during an acute market crash in June and from November 11,…
The United States securities regulator is seeking to revise its $22 million punishment against decentralized content platform LBRY, acknowledging it is unlikely to be able to cough up the funds to be able to pay it. In a May 12 filing in a New Hampshire District Court, the Securities and Exchange Commission (SEC) sought an amendment to its request for remedies in its successful case against LBRY. Instead of seeking the original $22 million — the amount it claims LBRY gained from the sale of its token LBRY Credits (LBC),…
Harvard economics professor Kenneth Rogoff, who previously served as the chief economist at the International Monetary Fund (IMF), has warned that the U.S. defaulting on its debt obligations could spark a global financial crisis. “It’s a very perilous situation and we are in unknown waters,” he warned. Harvard Professor of Economics Kenneth Rogoff on U.S. Default and Global Financial Crisis Harvard economics professor Kenneth Rogoff shared his view on the U.S. economy, a possible U.S. default, and a global financial crisis in an interview with ET editor Srijana Mitra Das,…
Billionaire hedge fund manager Stanley Druckenmiller has a dire prediction for the U.S. economy: a recession is looming, and it’s likely set to hit this June. Druckenmiller’s forecast comes as American consumer spending remains low, and is largely driven by credit card usage. Druckenmiller, a seasoned investment mogul, warns that it would be foolish to ignore the possibility of a “really, really bad” scenario unfolding. Druckenmiller Cites Drop in Consumer Spending and Banking Industry Turmoil as Recession Indicators At the 2023 Sohn Investment Conference in San Francisco, Stanley Druckenmiller sounded…
Non-fungible token (NFT) sales witnessed a minor rise last week, registering a humble increase of around 1.46% compared to the preceding week. The cumulative value of NFT sales amounted to $149.31 million from April 29 to May 6, 2023. Nevertheless, the most recent week exceeded anticipations, as sales skyrocketed by 31.22%. Throughout the seven-day interval, NFT sales attained $208.17 million. The substantial rise in this week’s NFT sales can be credited to the appearance of NFTs originating from the Bitcoin blockchain. Bitcoin-Based NFT Sales Gain Significant Momentum Bitcoin NFT sales…
Riot Platforms, a company that mined cryptocurrencies and was previously known as Riot Blockchain, has filed a lawsuit against Rhodium Enterprises, a bitcoin miner headquartered in Texas. It attempts to collect more than $26 million in allegedly unpaid mining facility fees. Rhodium Enterprises was the subject of a petition submitted to the Milam County Court in Texas on May 2, seeking to collect “more than $26 million” and be compensated for any legal bills that may have been expended. According to the quarterly financial report for Riot Platform for the period ending March 1,…
The US Secret Service’s San Francisco Field Office and the Bay Area Regional Enforcement Allied Computer Team (REACT) will hold an ask me anything (AMA) session on May 15, 2023, from 11 AM PM on Reddit, a social media platform. The host of this special session will be the moderators of the popular crypto-centric forum on Reddit, CryptoCurrency. The subreddit has over six million users and is a choice engagement portal for cryptocurrency fans from across the globe. The r/CryptoCurrency moderators have confirmed that the United States REACT team wants to engage…
The crypto market can be fraught with uncertainties as new projects vie for attention and established coins adapt to fast-evolving market conditions. Amid this rugged landscape, DigiToads is carving out its share, distinguishing itself from popular meme coins like pepe (PEPE) and shiba inu (SHIB). This article explores DigiToads’ features and value propositions that differentiate it from competitors. DigiToads TOADS, the native token of DigiToads, is an ERC-20 token, that powers the expansive ecosystem. The token differs from other meme coins and can be an investment that users can consider. The project…
Investors believe it is highly likely that the target rate will remain unchanged at the June 14 Federal Open Market Committee (FOMC) meeting, following the U.S. Federal Reserve’s decision to increase the federal funds rate by 25 basis points on May 3. As the battle against inflation in the U.S. rages on, the Biden administration appointed Philip Jefferson as the new vice chair to replace Lael Brainard. The American president stated that his nominees will play a “crucial role” in maintaining price stability and overseeing the country’s financial institutions. Fedwatch…