Month: May 2023

What is Pepecoin and can it flip memecoins Dogecoin and Shiba Inu?

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The market valuation of Pepecoin (PEPE) has dropped by 65% as of May 12, a week after its record high of $1.54 billion. Profit-taking appears to be the primary reason behind the extreme price correction, after it rallied from almost nothing to as high as $0.00000372 after its launch on April 14, while emerging as the fastest-growing ERC-20 token in the crypto market’s history. PEPE market cap performance since launch. Source: CoinGecko What is PEPE? Pepecoin captures people’s attention by mimicking features of memecoins, based on popular internet memes. The…

New tech could make crypto and Web3 wallets more convenient

The foundation of the Web3 ecosystem is the wallet, an app or browser extension that lets users verify their web identities and authorize transactions. But using a wallet has always involved a steep learning curve. New users must learn to copy down their seed words and store them in a safe place, create a strong password to encrypt their keystore file, copy addresses accurately when sending funds, and other things they may never have to learn when using a Web2 app. If a new user wants to make onboarding more…

UAE infrastructure for crypto is more ‘business-friendly’ than the US, says exec

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At the recent Dubai Fintech Summit event, Saqr Ereiqat, the co-founder of venture-building firm Crypto Oasis, spoke about the United Arab Emirates’ infrastructures and how they can be “ideal” for crypto businesses.  Speaking with Cointelegraph, Ereiqat highlighted that there are several factors that businesses should look at when considering a place to set their companies at. According to the executive, this includes the country’s regulatory infrastructure, digital infrastructure and its ability to attract a global pool of talent. The executive claims that the UAE checks all these boxes. Crypto Oasis…

Bitcoin 2023 Price Rally Is Proof Crypto Would Revisit All-Time High Early Next Year

CryptoQuant’s Business Development executive Benjamin Brannan exposited on the Bitcoin’s ‘favorable’ price optics in 2023.  Crypto trading data analyzer CryptoQuant recently weighed in on Bitcoin’s (BTC) price potential and appeal in 2023. In a media session, representatives from the crypto trading analyzer opined that more institutions could shore up on BTC later this year. The decentralized data provider’s reps also forecasted the prominent token returning to its previous record high by early 2024. CryptoQuant Says Bitcoin 2023 Price Trajectory Is Up In an interview with CryptoPotato, CryptoQuant Head of BD…

US House Committee on Financial Services Issues Ultimatum to SEC Chair Gensler

The ultimatum highlights the growing pressure on the SEC to take a more transparent approach to its regulatory activities. The US House Committee on Financial Services has given the Securities and Exchange Commission (SEC) Chair, Gary Gensler, an ultimatum to respond to its requests. The committee is asking for access to internal documents concerning the SEC’s activities, especially about the agency’s proposed climate rule and charges against the former FTX CEO. Despite the congressional demands, Gensler had refused to provide the documents. Consequently, Congressman Bill Huizenga, Chairman of the Oversight…

BTC Plunges Under $27,000, Hitting 7-Week Low – Market Updates Bitcoin News

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Bitcoin fell to a seven-week low on May 12, as prices dropped below the $27,000 level in today’s session. Friday’s decline came as a red wave swept through cryptocurrencies, with the market cap down 2.75% as of writing. Ethereum also slipped to its weakest point since March. Bitcoin Bitcoin (BTC) dropped below the $27,000 level in today’s session, pushing prices to a seven-week low. Following a high of $27,589.92 on Thursday, BTC/USD slipped to an intraday bottom at $26,166.87. As a result of this drop, bitcoin fell to its lowest…

Forget Cambridge Analytica — Here’s how AI could threaten elections

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In 2018, the world was shocked to learn that British political consulting firm Cambridge Analytica had harvested the personal data of at least 50 million Facebook users without their consent and used it to influence elections in the United States and abroad. An undercover investigation by Channel 4 News resulted in footage of the firm’s then CEO, Alexander Nix, suggesting it had no issues with deliberately misleading the public to support its political clients, saying: “It sounds a dreadful thing to say, but these are things that don’t necessarily need…

NBCU’s Linda Yaccarino Allegedly in Talks to Become Next Twitter CEO

Yaccarino, over the recent months, has assisted Twitter in re-establishing its repertoire with advertising agencies. According to Wall Street Journal report, NBCU’s Head of Advertising Linda Yaccarino is all set to become the next Chief Executive Officer of Twitter. The news comes hours after Elon Musk’s announcement via Twitter that he has appointed a new CEO. Yaccarino, who devoted a major part of her life and career to WarnerMedia’s TV operations before joining NBCUniversal ten years ago, oversees the Comcast-owned firm’s ad-sales operations around the world. In an article written…

The European Union’s Crypto Tax Plans Include Non-Fungible Tokens, Foreign Companies, Draft Text Shows

CryptoX – Cryptocurrency Analysis and News Portal The bill, dated May 5, closely matches proposals made by the European Commission in December 2022, as part of a bid to stop EU residents stashing crypto abroad to hide it from the taxman. The commission would have to set up a register of crypto asset operators’ by December 2025, bringing forward a previous deadline by one year, and the rules will apply as of Jan. 1, 2026. Source The post The European Union’s Crypto Tax Plans Include Non-Fungible Tokens, Foreign Companies, Draft…

MakerDAO Plots New AI-Inspired Blockchain, Publishes Roadmap

The new blockchain called NewChain will be closely linked with Ethereum, promising increased governance security of the ecosystem. MakerDAO, the issuer of the DAI stablecoin, has revealed its plans for a major update it calls the “Endgame”, this follows after the platform recently published a detailed roadmap of the upcoming update. According to the May 11 announcement, the update will take place in five phases and will effect changes that will use artificial intelligence (AI) tools and ultimately lead to the creation of a new blockchain. Part of the publication…