Tag: News

US Treasury Secretary Janet Yellen Urges Congress to Act Quickly on Debt Limit, States Defaulting Would Be ‘Unthinkable’ – Economics Bitcoin News

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U.S. Treasury Secretary Janet Yellen has warned again about the consequences of the U.S. defaulting on its debt. During a press conference in Niigata, Japan, Yellen stated that this would be a self-inflicted crisis, and urged Congress to act quickly on the matter, stating that defaulting would be an unthinkable outcome on this issue. US Treasury Secretary Janet Yellen Urges Congress to Act Quickly to Avoid Debt Default U.S. Treasury Secretary Janet Yellen has urged Congress to act quickly on the issue of raising the debt ceiling to avoid a…

Large Immersion Cooled Crypto Mining Farms to Extract Bitcoin in Middle East Desert – Mining Bitcoin News

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A project to build two large-scale facilities for cryptocurrency mining is underway in the United Arab Emirates (UAE). The high-tech data centers will rely on a full immersion solution to cool the power-hungry miners as the desert climate renders air-cooled mining infeasible, participants said. Advanced Crypto Mining Facilities in Abu Dhabi to Defy Cooling Challenges in Arab Peninsula Marathon Digital Holdings, a leading U.S.-based crypto mining company, and emerging blockchain infrastructure developer Zero Two, are working to launch what they say will be the Middle East’s first immersion bitcoin mining…

SEC Chair Warns US Default Would Have ‘Significant’ and ‘Lasting Effects’ on Investors, Markets – Economics Bitcoin News

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Securities and Exchange Commission (SEC) Chairman Gary Gensler has warned that the U.S. Treasury defaulting on its debt obligations “would have very significant, hard to predict, and likely lasting effects on investors, issuers, and markets alike.” Gensler stressed: “We’ve already seen an effect in the pricing and liquidity of short-dated Treasury bills and continue to monitor for any additional tremors.” SEC Chair Gary Gensler on U.S. Debt Default The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has weighed in on the impact a U.S. default would…

Goldman Sachs, Yellen Warn of US Default’s ‘Catastrophic Consequences’ — ‘There Is Real Risk to US Dollar’ – Economics Bitcoin News

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A Goldman Sachs executive who also serves as the chair of a Treasury advisory committee has warned that a U.S. default poses “real risk to the U.S. dollar.” She stressed: “Anything that moves us away from being viewed as the world’s reserve currency, of being the safest most liquid asset in the world, is bad for the American people, bad for the dollar, and bad for the U.S. government.” Goldman Sachs Agrees With Treasury Secretary Yellen on US Default Risks Goldman Sachs executive Beth Hammack warned about the risks of…

Former Coinbase Employee Sentenced | Blockchain News

On May 9th, 2023, a federal judge in the United States District Court for the Southern District of New York sentenced Ishan Wahi, a former product manager at Coinbase Global, to 24 months in prison for insider trading. Wahi had used confidential information he obtained during his time working at Coinbase to profit off new listings of tokens, totaling up to $1.5 million. The judge, Loretta Preska, sentenced Wahi to two years in prison and ordered him to surrender by June 21st at 2:00 PM ET to serve his sentence…

Donald Trump Urges Republicans to Let US Default on Debt if Democrats Don’t Agree to Spending Cuts – Economics Bitcoin News

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Former U.S. President Donald Trump has urged Republican lawmakers to let the U.S. default on its debt obligations if the Democrats do not agree on “massive” spending cuts. Trump, who is also running for president in 2024, stressed that letting the U.S. default is “better than what we’re doing right now because we’re spending money like drunken sailors.” Donald Trump’s Advice on U.S. Default Former President and 2024 Republican presidential candidate Donald Trump has advised Republican lawmakers to let the United States default on its debt obligations if Democrats do…

Bitcoin Miner Marathon Receives Second SEC Subpoena in Connection to Montana Mining Facility Investigation – Bitcoin News

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Marathon Digital Holdings, a publicly-listed bitcoin mining company, has recently revealed that it was served with a subpoena by the U.S. Securities and Exchange Commission (SEC) in relation to an investigation concerning the firm’s Montana mining facility. The SEC is reportedly looking into potential violations of federal securities law. Marathon’s Montana Mining Facility Under SEC Investigation, Company Receives Second Subpoena Marathon Digital Holdings (Nasdaq: MARA) was served with a second subpoena on April 10, 2023, following a previous subpoena in October 2020. The company disclosed the news in its May…

PEPE Token Continues Downward Spiral, Registers 60% Drop From All-Time High – Market Updates Bitcoin News

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The meme-based token pepe (PEPE) has experienced a 14.9% decline against the U.S. dollar over the last 24 hours, continuing its downward trend from the last five days. Thus far, PEPE has seen a 60% drop in value from its all-time high on May 5. Rival Meme Tokens Challenge PEPE’s Dominance as Meme Token’s Value Plummets Despite retaining its position as the third-largest meme token in terms of market capitalization, pepe (PEPE) has been losing value since May 5, when it hit $0.00000431 per unit. Its value has since plummeted…

EMCO Network Unleashes Blockchain’s Potential for Precious Metal Industry and Financial Inclusion – Press release Bitcoin News

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press release PRESS RELEASE. EMCO Network, a pioneering Defi project, is set to revolutionize the digital and financial landscapes by leveraging its unique blend of real-world experience in precious metals and artificial intelligence sectors. Addressing the challenges faced by users from low socio-economic backgrounds, EMCO Network aims to provide a novel platform to tap into their digital identities, generating financial opportunities while fostering organic online interactions. The project’s robust and sustainable revenue model is built on its strong foothold in the precious metals industry. EMCO Network’s blockchain strategy is designed…

LTC Above $80.00, Moving Away From 6-Week Low  – Market Updates Bitcoin News

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Litecoin was back above $80.00 on Wednesday, as the token climbed away from a recent six-week low. Today’s rise in price sees the cryptocurrency surge for a third straight day, despite recent market volatility. Cardano was also marginally higher. Litecoin (LTC) Litecoin (LTC) jumped back above $80.00 earlier in today’s session, as the token continued to move away from recent lows. Following yesterday’s low of $78.18, LTC/USD raced to an intraday high of $81.97 on Thursday. The surge saw litecoin rise from a recent six-week low of $75.32, which took…