Former House Speaker Paul Ryan: Stablecoins Can Help Fight an Upcoming US Debt Crisis and Chinaโ€™s Growing Influence

Paul Ryan, a former speaker of the House of Representatives, has assessed the possible role that stablecoins will play in fighting an upcoming U.S. debt crisis. According to Ryan, the demand derived from the increasing relevance of dollar-backed stablecoins, which use U.S. treasuries as backing, will help keep a healthy demand on U.S. debt and [โ€ฆ] Source CryptoX Portal

Crypto Sector Secures $317M in Venture Capital Deals in Early June

With the first half of June concluded, there have been 37 venture capital deals and fundraising events in the crypto sector. Collectively, these investments totaled $317.87 million, with Avail, a modular blockchain project, leading the pack with $43 million. 37 Crypto Startups and Projects Gather $317 Million Crypto investments are ongoing, and in the last [โ€ฆ] Source CryptoX Portal

Advisorsย cautious with Bitcoin ETF adoption: BlackRock exec

BlackRockโ€™s chief investment officer for ETF and index investments, Samara Cohen, has hinted that financial advisors remain โ€œwaryโ€ of adopting spot Bitcoin (BTC) exchange-traded funds (ETFs) despite the success recorded by the investment vehicle.ย  Despite attracting over $50 billion in investments since going live in January 2024, Bitcoin ETFs still face a sluggish uptake among financial advisors. According to Cohen, approximately 80% of Bitcoin ETF purchases originate from self-directed investors who have made their own allocation through an online brokerage account. Cohen has highlighted that financial advisors remain cautious of…

The State of Crypto Merchant Adoption in 2024

Merchants are increasingly adopting cryptocurrencies like bitcoin and ethereum, reflecting a growing trend towards digital currency payments as a viable alternative to traditional means. Merchants Embrace Digital Currency Payments Cryptocurrency is no longer a fringe concept but a rapidly growing trend in the retail sector. Retail organizations are preparing for and embracing digital currency payments. [โ€ฆ] Source CryptoX Portal

Salvadoran Government Introduces Bitcoin Banking Law Reform

The Salvadoran government has presented an initiative to accelerate the inclusion of Bitcoin and other cryptocurrencies in its investment banking sector. The banking law reform introduced to the National Assembly would allow private investors to constitute banks that can provide services in Bitcoin and stablecoins for sophisticated investors Salvadoran Government Presents Bill to Allow Private […] Original

JPMorgan Chase Captures 18% of US Bank Profits, Highlighting Growing Market Dominance

A report has found that JPMorgan Chase Bank accounted for a substantial 18% share, or $11.7 billion, of the total $64.2 billion net income reported by all FDIC-insured banks for the first quarter of 2024. This data, highlighted by financial reporters Pam Martens and Russ Martens from wallstreetonparade.com, underscores the increasing concentration of profits within [โ€ฆ] Source CryptoX Portal

Paxos Lays Off 65 Employees Following Yield-Bearing Stablecoin Launch

According to sources familiar with the matter, the stablecoin issuer Paxos is cutting 20% of its workforce. This development comes on the heels of Paxos Internationalโ€™s announcement of its yield-bearing stablecoin. Paxos Trims Workforce by 20% Bloomberg reports that Paxos has laid off 65 employees, which accounts for 20% of its staff. The information was [โ€ฆ] Source CryptoX Portal

T-Mobile Owner Deutsche Telekom Unveils Bitcoin and Lightning Network Node Operations

This week at the BTC Prague conference, Deutsche Telekom’s subsidiary T-Systems MMS announced its operation of a Bitcoin node and a Lightning Network node. Deutsche Telekom, Europe’s largest telecommunications provider and the parent company of T-Mobile, also shared plans to mine bitcoin. BTC Prague Conference: T-Mobile Owner Operates a Bitcoin Node, Plans to Mine the […] Original

Top cryptocurrencies to watch this week: ETH, DAO, ELON

The cryptocurrency market experienced a predominantly bearish trend last week. Bitcoin (BTC), the leading asset, saw its price decline by 4%. Most major tokens followed suit with quite similar movements, although a few lesser-known cryptocurrencies managed to defy the downturn. Amid widespread market pressure, the global cryptocurrency market cap decreased by $120 million, representing a 4.7% decline. It dropped from $2.54 billion at the start of the week to $2.42 billion by the weekโ€™s end. Here are our picks for some of the top cryptocurrencies to watch this week, based…

100 Largest Non-Exchange Ethereum Whales Now Hold All-Time High of $241,635,000,000 in ETH: Santiment

The biggest whales on the Ethereum network currently hold an all-time high of $241.635 billion in ETH, according to the newest on-chain data. According to crypto analytics firm Santiment, the 100 largest non-exchange Ethereum whales hold a record high of 68.39 million ETH tokens, while exchange wallets have declined. โ€œThe top 100 Ethereum wallets on exchanges recently fell below its May 2018 all-time low, now at 8.41 million total ETH. This is a sign of increasing distribution over time. Meanwhile, the top 100 non-exchange wallets tell the opposite story, holding…