Day: June 2, 2023

Price analysis 6/2: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

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Bitcoin and most major altcoins are witnessing subdued price action, indicating a lack of buying interest from the larger players. The United States equities markets rallied sharply on June 2 even though nonfarm payrolls in May rose by 339,000, blowing past economists’ expectations of a 190,000 increase. A few analysts pointed out that the market was possibly encouraged by the slower growth rate of hourly earnings, which was slightly below estimates, and an uptick in the unemployment rate. The rally in the equities markets failed to act as a tailwind…

CBDC ‘may not be a compelling priority,’ says Kenya’s central bank

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The Central Bank of Kenya received comments on a discussion paper on the potential issuance of a digital shilling, and hasn’t a definitive conclusion.  In a June 2 announcement on Twitter, Kenya’s central bank said it received more than 100 comments from members of the public, commercial banks, tech firms, and other participants across nine countries regarding the issuance of a central bank digital currency, or CBDC. The responses varied from highlighting potential benefits and risks, but the central bank said it would “continue to monitor developments” and take a…

Marathon Digital (MARA) Mined 77% More Bitcoin (BTC) in May With the Help of Its Software

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Marathon in the previous month produced markedly little bitcoin per exahash, which can be partly attributed to downtime of its mining machines. In April, Marathon mined 50 bitcoin per exahash of computing power, the least out of 14 publicly listed miners. In comparison, during April, peer CleanSpark (CLSK) mined 78 bitcoin, Riot Platforms (RIOT) had 61 and Hive Blockchain (HIVE) produced 81 bitcoin per exahash. Original

Blockchain Association Files Amicus Brief in Coin Center Lawsuit Against U.S. Treasury Over Tornado Cash Sanctions

“An order effectively requiring Defendants to decriminalize use of the 20 Tornado Cash addresses would allow Plaintiffs to conduct their legitimate activities with some measure of anonymity, use their preferred software tool without fear of penalties, and engage in important expressive associations,” the suit said. “Judicial relief would also serve the public interest by averting harm to Tornado Cash users who are United States persons, to Ethereum as a freedom and privacy enhancing technology, and to the important sector of the economy that depends on Ethereum.” Source link

U.S. House Republicans Push for Crypto Oversight With Bill to Make SEC Play Ball

But as a product of negotiations between Rep. Patrick McHenry (R-N.C.), the chair of the financial panel, and Rep. Glenn “GT” Thompson (R-Pa.), the chair of the agriculture committee, this bill doesn’t yet represent the needed input from their Democratic counterparts. It’s a “discussion draft” meant to start the conversation, according to a senior policy staff familiar with the legislation, who said the chairs are hoping Democrats come up with their own version and the sides can start finding common ground. Source

Stablecoins are a critical countermeasure to Operation Chokepoint

Boosting financial inclusion is one of crypto’s strongest value propositions. Yet, ironically, the banking crisis has effectively de-banked the crypto industry itself, at least in the United States. How things panned out with Silvergate, Silicon Valley Bank and Signature — the three crypto-friendly U.S. banks — reeks of what Nic Carter called “Operation Chokepoint 2.0.” There’s good merit to this claim, though naysayers peddle conspiracy theory allegations with much harshness. Signature, for one, did not face a bank run. The Federal Deposit Insurance Corporation still took the bank over in…

Taurus deploys on Polygon blockchain for asset tokenization and custody

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Digital asset infrastructure provider Taurus is stepping up its tokenization efforts in Europe through a full integration with the Polygon blockchain, the company announced on June 2.  The move comes three months after Taurus raised $65 million in a funding round, and will allow its clients to automatically issue digital securities. Taurus claims to have over 25 clients across nine countries, including Arab Bank Switzerland, CACEIS Bank, Crédit Agricole, Credit Suisse, Deutsche Bank, Pictet, Swissquote, Vontobel. A Taurus spokesperson told Cointelegraph that debt, funds, and structured products are among the…