Month: May 2023

IMF Warns of ‘Very Serious Repercussions’ if US Defaults on Debt Obligations – Economics Bitcoin News

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The International Monetary Fund (IMF) has warned of “very serious repercussions” to both the U.S. and the global economy if the U.S. defaults on its debt obligations, which could be as soon as June 1. “We are calling on all of the parties to come together, reach consensus, and resolve the matter as quickly as possible,” said the IMF’s director of communications. IMF Warns About U.S. Debt Default The International Monetary Fund (IMF) has warned that the U.S. defaulting on its debt obligations would have “very serious repercussions” on both…

Governor Ron DeSantis Signs Bill Prohibiting Use of Central Bank Digital Currencies in Florida – Bitcoin News

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On Friday Florida’s governor Ron DeSantis signed legislation that bans the use of a central bank digital currency (CBDC) in the state. Following the bill SB 7054 being signed into law, Florida’s Uniform Commercial Code (UCC) now explicitly forbids the use of a federally adopted CBDC as money. Florida Puts the Brakes on CBDCs The Sunshine State has officially outlawed the use of a central bank digital currency (CBDC) following the approval of SB 7054 or HB 7049 by the Florida House of Representatives and Senate. Governor Ron DeSantis put…

Bakkt delists majority of tokens from recently acquired Apex Crypto platform

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Digital asset firm Bakkt has dropped 25 of the 36 crypto tokens listed on its recently acquired trading platform Apex Crypto. A spokeswoman for the company told Cointelegraph on May 12 that the decision was “part of our regular coin listing review process,” and added that: “Our clients’ and their consumers’ best interests are our core commitment, and our review process ensures those interests are best served when we contemplate the most up-to-date regulatory guidance and the latest industry developments.” Further details are sparse at this stage, however most of the…

$3.7M Worth of BTC Suddenly Moves After Close to 12 Years of Dormancy – Bitcoin News

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On May 11, 2023, a long-inactive bitcoin wallet sprang to life and transferred a substantial 139.7 bitcoin worth $3.7 million. The address, established on June 19, 2011, has contributed to the year’s total of 1,125.37 bitcoin moved from dormant 2010 and 2011 wallets. 139.7 Bitcoin Worth $3.7 Million Suddenly Moves From Idle Wallet A vintage wallet created on June 19, 2011, suddenly relocated 139.7 BTC, equivalent to $3.7 million at the time of transfer, on Thursday, May 11, 2023. Btcparser.com flagged this activity, which was confirmed at block height 789,291…

US lawmakers target perceived risks of crypto adoption in El Salvador with reintroduced bill

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Two United States Senators from opposite sides of the political aisle have reintroduced legislation from 2022 aimed at mitigating perceived risks posed by El Salvador’s adoption of Bitcoin as a legal currency. Congressional records showed Idaho Senator James Risch and New Jersey Senator Bob Menendez introduced “a bill to require reports on the adoption of cryptocurrency as legal tender in El Salvador” on May 11. The legislation appeared to be a second attempt at the Accountability for Cryptocurrency in El Salvador Act, which Risch introduced in February 2022, mere months…

Bakkt Mass Delists Tokens Including AAVE, AVAX, COMP, FIL, MKR and UNI

The full list of de-listed tokens are: Aave (AAVE), Avalanche (AVAX), Bancor Network Token (BNT), Basic Attention Token (BAT), Chainlink (LINK), Chiliz (CHZ), Compound Token (COMP), Cosmos (ATOM), Curve DAO (CRV), Enjin Coin (ENJ), Fantom (FTM), Filecoin (FIL), GALA (GALA), The Graph (GRT), Internet Computer (ICP), Loopring (LRC), Maker DAO (MKR), Republic (REN), Stellar (XLM), Sushiswap (SUSHI), Synthetix (SNX), Texos (XTZ) and Uniswap (UNI). Source

Bitcoin miners accumulating coins despite sharp price drops

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin miners are  holding onto their coins and accumulating, despite recent price drops, records on May 12 shows.  Their decision to hang on has been described by one observer as “one of the most sincere displays of conviction in the asset”. Bitcoin miners are HODLing Publicly available information reveals the Bitcoin balances of several bitcoin mining companies, including Marathon, Hut, and Bitfarms, increased in the first four months of the year. This shows their commitment to…

Do Kwon to Be Released on €400,000 Bail, Pleads Not Guilty in Montenegro – Bitcoin News

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Terraform founder Do Kwon will be released from jail but placed under police surveillance at a local residence, a Montenegrin court has decided. The trial against him and another Korean, on charges of travelling on false documents, opened on Thursday with both pleading not guilty. Court Grants Bail Request for Do Kwon, Puts Him Under House Detention A first instance court in Podgorica has agreed to release the founder and former chief executive of failed blockchain firm Terraform Labs, Do Kwon, and another South Korean citizen on bail, local and…