Month: May 2023

Play-to-Earn Is Dead, But ScapesMania’s Launch Brings a Vital Alternative In Light of the P2E Apocalypse – Press release Bitcoin News

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press release PRESS RELEASE. P2E projects have reached a dead-end due to the inherent issues of the model. Token Prices and user bases are plummeting and revenue streams of such projects are no longer functioning. So, is this it for the P2E, and is there a way out? May 4, 2023, MAHÉ, SEYCHELLES – After a tumultuous two years, the market cap for GameFi tokens stood at a staggering $27 Billion USD at the start of 2022. Fast forward to 2023, and that amount stands at a much cooler figure…

US Stock Indices Plummet as Fed Raises Interest Rate for 10th Time

The US stock indices notably derailed from the recent growth path it has charted in recent times following the rate hike news. The US stock market and its associated indices took a major plunge at the close of trading on Wednesday as the Federal Reserve’s Open Market Committee (FOMC) hiked interest rate by 25 basis points for the 10th time. Though the rate is a mild one, the move shows the drivers of the economy are not willing to back down on the fight against inflation that was pegged at…

Twitter Makes $300M Second Interest Payment to Cover $12.5B Debt

Twitter reportedly made another interest payment, only the second of an expectedly long schedule of debt repayments expected from the company. Twitter Inc has made its second interest payment as part of the $12.5 billion debt CEO Elon Musk used to buy the social media giant in 2022. Twitter paid a group of seven banks, including Morgan Stanley. According to calculations by Bloomberg and market players unconnected to the deal, Twitter’s payment should be about $300 million. Bloomberg notes that Morgan Stanley and the other banks initially tried to sell the debt to…

OKX Exchange Faces Technical Issue With SUI Token, Compensates Affected Traders

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On May 3 at 18:40, the OKX exchange opened the spot selling of the SUI/USDT pair. Unfortunately, traders experienced a technical issue with canceling orders to buy SUI. This was announced on Twitter by the founder of OKX, Star Xu. The platform could not rectify the problem immediately, causing inconvenience to traders who were affected. Following the technical issue with the SUI token trading on the OKX exchange, customers who had placed orders to buy SUI tokens at a price exceeding 1.3 USDT could not cancel their trades. In response,…

Nigerian national blockchain policy gets government approval

The government of Nigeria — one of the world’s most curious nations about cryptocurrencies like Bitcoin (BTC) — has approved the National Blockchain Policy for Nigeria during its meeting on May 3, 2023. The approval was in response to a memo presented by Isa Ali Ibrahim, the Minister of Communications and Digital Economy. In the announcement, The Federal Ministry of Communications and Digital Economy (FMCDE) cited a report from PricewaterhouseCoopers (PwC) predicting the widespread adoption of blockchain technology across various industries could potentially contribute $1.76 trillion to the global gross domestic…

U.S. State Regulators Target Supposed AI-Crypto Tokens Using Images of Musk, CZ and Buterin.

The scheme operated by Horatiu Caragaceanu, The Shark of Wall Street and Hedge4.ai markets coins known as TruthGPT Coin (TRUTH). The token is using images of Elon Musk, Binance Chief Executive Officer Changpeng “CZ” Zhao and Ethereum founder Vitalik Buterin, said the Texas State Securities Board, which is joined by counterparts in New Jersey, Alabama, Montana and Kentucky. Source

Ukraine, US Shut Down 9 Cryptocurrency Exchanges – Bitcoin News

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Supported by U.S. law enforcement, police in Ukraine have disrupted a network of crypto exchange services suspected of laundering criminal proceeds. The platforms were allegedly processing dirty money obtained from ransomware attacks and various fraud schemes. Cyberpolice, US Investigators Bust Crypto Exchanges in Ukraine Officers from Ukraine’s Cyberpolice unit and Main Investigative Department, working with the Prosecutor General’s Office, have seized nine cryptocurrency exchanges, the National Police of Ukraine announced. Representatives of the U.S. Federal Bureau of Investigation (FBI) also took part in what Ukrainian authorities described as a “multi-level…

Bitcoin eyes liquidity above $30K as gold hits new all-time high

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Bitcoin (BTC) reclaimed $29,000 overnight into May 4 as the United States banking crisis risked spawning new victims. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Gold, Bitcoin benefit from U.S. banking mayhem Data from Cointelegraph Markets Pro and TradingView tracked a swift change of mood for BTC/USD, which hit $29,242 on Bitstamp. The pair had sunk to daily lows at the previous day’s Wall Street open as markets awaited a decision on interest rates from the Federal Reserve. At the same time, more U.S. regional bank stocks were suffering, the…