Month: May 2023

Pepe down by another 13% as whales accumulate the token

Pepe coin (PEPE), inspired by the Pepe the Frog meme in the 2000s, is on a downward movement along with the global crypto market capitalization. As the asset’s price shows a bearish sentiment, whales have been busy accumulating. Soon after the largest crypto exchange, Binance, stated it would list the ethereum-based memecoin, PEPE flipped FLOKI to become the third-largest memecoin by market cap with DOGE and SHIB leading the list. Despite having no utility at this time, pepe coin has already recorded approximately 3,300% gains since its launch on April…

How to send and receive payments on the Lightning Network

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To send and receive payments on the Lightning Network, users must first set up a Lightning wallet and fund it with Bitcoin. From there, they can create payment channels and start transacting. This article will guide users through the process, from setting up their Lightning wallet to making their first Lightning payment. What is the Lightning Network The Lightning Network (LN for short, or simply “Lightning”) is a decentralized system for instant, high-volume micropayments that prevents users from delegating custody of funds to trusted third parties. It is a layer-2…

Warren Buffett dumps $13.3B in stocks — A warning sign for Bitcoin and risk-assets?

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Warren Buffett moving into cash suggests that he’s bracing for a possible collapse in risk-on asset prices. With Bitcoin (BTC) up 70% year-to-date and correlated with equities, should BTC investors also prepare for a potential stock market crash?  Buffett says “incredible period” is over Warren Buffett’s Berkshire Hathaway dumped $13.30 billion worth of equities and increased exposure in cash and U.S. Treasuries in Q1, its latest quarterly earnings report shows. Meanwhile, it channeled $4.4 billion toward purchasing its own stock and $2.9 billion on the shares of other publicly-traded companies. The…

Coinbase legal chief sends letter to SEC on RIA rulemaking

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Coinbase’s legal chief has requested the United States Securities and Exchange Commission (SEC) make several revisions to its proposed regulation on the responsibilities of registered investment advisers (RIAs) for storing client assets with qualified custodians. Although the SEC acknowledges Coinbase Custody Trust Company as a “qualified custodian,“ Coinbase contends that the updated RIA custody rule unfairly targets crypto and makes improper assumptions about custodial practices based on securities. According to a May 8 letter from Coinbase chief legal officer Paul Grewal, the proposed SEC rulemaking fails to safeguard other asset…

Liechtenstein Prime Minister Says Government to Accept Bitcoin Payments, Open to Investing Reserves in BTC – Regulation Bitcoin News

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Liechtenstein’s prime minister has reportedly revealed that bitcoin payments will be accepted for some government services. “A payment option with bitcoin is coming,” he said, adding that he is open to investing state reserves in the cryptocurrency. Bitcoin Adoption in Liechtenstein Daniel Risch, Liechtenstein’s prime minister who also serves as the country’s finance minister, has reportedly revealed that Liechtenstein plans to accept bitcoin payments for certain government services. He said in an interview with German business daily Handelsblatt Sunday without giving a specific timeframe: A payment option with bitcoin is…

Bitcoin competitor BSV up 16% amid crypto selloff

Bitcoin SV (BSV) and bitcoin cash (BCH) are bucking the overall market trend as they register impressive gains despite an ongoing market-wide bloodbath. BSV and BCH have respectively increased by 16% and 6% at a time when most assets are facing declines. BSV recovers from record dip Notably, BSV has secured its position as the biggest gainer in the past 24 hours among the top 100 assets. The asset’s latest run was immediately preceded by a shocking dip in its value yesterday. BSV dropped to an all-time low (ATL) of…

Spotify reportedly deletes thousands of AI-generated songs

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The battle between the music industry and artificial intelligence (AI) continues as reports claim Spotify is taking down AI-generated music.  A Financial Times (FT) report revealed that the music streaming platform had removed 7% of songs created by the AI music startup Boomy, amounting to “tens of thousands” of songs. Spotify is also said to be ramping up its policing of the platform in light of the situation. This comes after Spotify and other streaming services began receiving complaints of fraud and clutter on the platform. Music industry giant Universal Music Group…

Bitcoin ordinals hit Binance NFT Marketplace in latest update

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Bitcoin ordinals — also known as Bitcoin NFTs — have made their way into the limelight of the Web3 space, as more marketplaces continue to adopt and offer digital assets.  On May 9, the cryptocurrency exchange Binance announced that it will support Bitcoin ordinals on its NFT marketplace in late May. The development will expand Binance’s multichain NFT ecosystem to include the Bitcoin network. Previously the Binance NFT market integrated with other decentralized networks, including BNB Chain, Ethereum and Polygon. Mayur Kamat, the head of product at Binance, commented on broadening…

Binance Adds Support for Bitcoin NFTs

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Binance NFT, which already supports NFTs on Ethereum, Polygon and its native BNB Chain, plans to expand its offerings by allowing traders to purchase Ordinals on the Bitcoin network. Collectors can soon buy and sell inscriptions, or NFTs created on the Bitcoin network, expanding the reach of the nascent Ordinals ecosystem. Original

‘Invest with Inflation, Not against It,’ Says Robert Kiyosaki

Kiyosaki believes Bitcoin price will continue soaring up as high as $500k in the coming years, purely fueled by inflation. The author of Rich Dad Poor Dad, Robert Kiyosaki, has reiterated his investment strategy against global inflation. During a CNBC interview, Kiyosaki noted that global inflation has become a systemic problem. As a result, the veteran investor advised people to double down on commodities like Gold, Bitcoin, Silver, and real estate. Kiyosaki noted that he is mostly interested in the rising prices of food, gasoline, real estate, and gold. Consequently,…