Day: June 13, 2023

US Lawmakers Float New Bill to Sack SEC Chair Gary Gensler

Davidson was joined by another crypto-friendly congressman Tom Emmer in creating the legislation. Crypto-friendly congressman Warren Davidson has filed a new bill called the “SEC Stabilization Act”. According to Davidson, the bill seeks to reform the SEC and rid it of its “tyrannical Chairman” Gary Gensler. His Twitter announcement reads: “Today I filed the SEC Stabilization Act to restructure the SEC and fire Gary Gensler.” In another statement, Davidson disclosed that the bill ultimately aims to protect the US capital markets. However, he also submitted that this aim can only…

Developer Uncle Rockstar shares the key to Bitcoin adoption: BTC Prague 2023

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The BTC Prague event has recently highlighted that while there remain places in the world where Bitcoin (BTC) adoption is still in its early stages, many continue to be positive about how the community can onboard more BTC supporters despite the new challenges that come in.  In an interview with Cointelegraph reporter Joseph Hall, pseudonymous Bitcoin developer Uncle Rockstar, the head of Bitcoin at payment platform Strike, shared his thoughts on Bitcoin adoption and his most pressing concerns within the Bitcoin ecosystem in 2023. According to the developer, the BTC Prague…

Food Delivery Platform Grubhub Lays Off 15% of Its Corporate Workforce

Grubhub said that it would offer employees a severance package for 16 weeks but refused to comment on the specific positions removed. In a message to employees on Monday, June 12, food delivery platform Grubhub stated that it plans to lay off 400 employees i.e. 15% of its corporate workforce. The company cited the reason for maintaining “competitiveness” in the current macro environment. Also, in comparison to other market players such as Uber Eats and DoorDash, Grubhub has failed to capture the market share. The company said that it would…

Meta Announces New AI Music Generator MusicGen

With several lawsuits already in motion, it remains to be seen how the law will address AI-generated music and how that may affect further innovation. Meta has launched a new AI music generator MusicGen that can create original songs from text inputs and existing melody prompts. Felix Kreuk, a member of the Meta Fundamental AI Research (FAIR) team, announced this via his Twitter page. Recall that in March, Meta CEO Mark Zuckerberg announced the company’s increased efforts in AI development for the Metaverse. He said, “Our single largest investment is…

Apple (AAPL) Shares Rise to ATH Fueled by Launch of Vision Pro VR Headset

Apple stock hit its new ATH driven by increased iPhone sales and the launch of a competitive Vision Pro VR headset last week. Apple Inc (NASDAQ: AAPL) shares closed Monday trading around $183.79, up 1.56 percent from the day’s opening price. The $2.85 trillion valued tech giant has experienced increased demand for its products, thus motivating investors to double down on its stock market. As a result, the AAPL shares surpassed the prior ATH last week and the market is currently headed to a price discovery phase. The incredible performance…

How Peter McCormack is turning an unknown town into a Bitcoin hub

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Can a football team backed by Bitcoin (BTC) really raise up a town? In the latest Cointelegraph documentary, reporter Joe Hall investigates the impact of a Bitcoin football club, Real Bedford, on the small commuter town of Bedford in the United Kingdom. Peter McCormack, the renowned host of the What Bitcoin Did podcast, bought Real Bedford Football Club in 2021 during the peak of the Bitcoin bull run. While many questioned his decision, McCormack saw an opportunity to revive a football club and promote Bitcoin adoption in his hometown. Two years later,…

BTC price focuses on $26K as Bitcoin traders brace for CPI volatility

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Bitcoin (BTC) returned above $26,000 on June 13 as analysts eyed resistance overhead.  BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Bitcoin price inches between trend lines Data from Cointelegraph Markets Pro and TradingView showed BTC/USD attempting to reclaim $26,000 support after the daily close. The pair had seen a curiously uneventful start to the week despite ongoing fallout from United States legal action and markets preparing for a slew of macroeconomic data releases. Thus, Bitcoin remained in a narrow range, which has been in place since midway through the…

‘There’s no more exciting time than now’ for Bitcoin: BTC Prague 2023

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In recent weeks, the cryptocurrency market has faced bearish trends, driving crypto market capitalization down to its lowest level in over two months. However, according to some market analysts, Bitcoin (BTC) and other altcoins are still resilient despite the overall market climate. But, it’s not only the market analysts still holding onto the bullish sentiment. At the BTC Prague 2023 conference, Jan3 CEO Samson Mow spoke with Cointelegraph about how he sees the current state of the Bitcoin market and why he’s bullish for the near and long-term future. Cointelegraph reporter…