Tag: News

Vaneck CEO Predicts Bull Cycle for Bitcoin and Gold — Expects Fed Tightening to End Soon – Markets and Prices Bitcoin News

boss

The CEO of investment management firm Vaneck has predicted a bull cycle for gold and bitcoin. “We are at the very beginnings of what could be a several-year cycle in gold, and I also put bitcoin in that category as well,” the executive said, adding that the Federal Reserve is “close to the end of their tightening.” Bull Cycle for Gold and Bitcoin Jan van Eck, CEO of investment management firm Vaneck, shared his prediction regarding gold and bitcoin in an interview with CNBC last week. His firm has $69…

Bitcoin Hashrate Reaches 400 Exahash per Second, Researcher Says Network Could Reach Zettahash Era by 2025 – Mining Bitcoin News

boss

Despite Bitcoin’s difficulty reaching an all-time high at 46.84 trillion, participants in bitcoin mining have kept the hashrate running stronger than ever before. According to statistics, on March 23, 2023, the hashrate reached a high of 400 exahash per second (EH/s). The 400 exahash equates to 0.4 zettahash or four hundred quintillion hashes per second. As the hashrate continues to climb, research analyst Sam Wouters at River Financial estimates that at the current growth rate, Bitcoin could reach the zettahash era “by the end of 2025.” Reasons for the Increase…

First Citizens Bank Acquires Silicon Valley Bank, Costing FDIC Deposit Insurance Fund an Estimated $20B – Bitcoin News

boss

According to the Federal Deposit Insurance Corporation (FDIC), the troubled bank Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based in Raleigh, North Carolina. First Citizens acquired all deposits and loans from SVB, as well as the 17 branches that SVB owned across the United States. Silicon Valley Bank Purchased by First Citizens in FDIC-Mediated Deal The FDIC has announced that First Citizens Bank has taken over Silicon Valley Bank (SVB) following the acquisition of Signature Bank by Flagstar seven days prior. According…

Experts Predict More Bank Failures in the US Following Interest Rate Hike and Unsettled Banking Crisis – Economics Bitcoin News

boss

After the recent bank collapses in the U.S., a number of people believe that more failures are coming following the Federal Reserve’s increase of the benchmark interest rate by 25 basis points (bps). American journalist Charles Gasparino insists that Wall Street’s “low-rate” junkies are ignoring the U.S. banking crisis. Quill Intelligence CEO Danielle DiMartino Booth asserts that the banking industry is facing problems that “nobody wants to call a banking crisis.” Ignoring the U.S. Bank Crisis There have been numerous opinions and statements from financial experts and officials following the…

‘sell the news’ moment nears after crypto-leading 20% weekly gain

boss

XRP (XRP) price is currently outperforming all other major cryptocurrencies as of March 27, rising over 20% in the past seven days. XRP/USD daily price chart. Source: TradingView XRP accumulation ahead of SEC vs. Ripple ruling XRP has seen steady gains over the past seven days as the ongoing legal quandary between Ripple and the U.S. Securities and Exchange Commission (SEC) is expected to conclude by the end of March. Meanwhile, the supply of XRP held by addresses with a balance between 10 million and 100 million tokens has risen by…

Binance Sued by CFTC for Alleged Violations of Trading and Derivatives Rules – Bitcoin News

boss

The world’s largest crypto exchange by trade volume, Binance Holdings Ltd., has been sued by the U.S. Commodity Futures Trading Commission. Binance CEO Changpeng Zhao has been named in the lawsuit and the charges claim the crypto exchange broke several trading and derivatives rules. The lawsuit also names Binance’s former chief compliance officer, Samuel Lim, for allegedly aiding and abetting Binance’s violations. CFTC Charges Binance with Willful Evasion of Federal Law; CEO Changpeng Zhao Named in Lawsuit The CFTC has charged Binance with willful evasion of federal law as the…

Biggest Movers: XRP Nears 5-Month High to Start the Week, Despite Crypto Market Consolidation – Market Updates Bitcoin News

boss

Xrp moved back towards a five-month high on Monday, as prices surged for a third straight session. The token formerly known as ripple was one of the very few gainers to start the week, as markets mostly consolidated. Polygon edged closer to a multi-week low to start the week. XRP, formerly ripple, rose for a third consecutive session on Monday, as prices neared a five-month high. Following a low of 0.4438 on Sunday, XRP/USD raced to an intraday high of $0.4877 earlier in today’s session. As a result of the…

Microstrategy Buys 6,455 More Bitcoin — Now Holds 138,955 BTC – Featured Bitcoin News

Microstrategy has purchased 6,455 bitcoins for approximately $150 million at an average price of $23,238 per coin. With its latest purchase, Microstrategy now holds 138,955 bitcoins acquired at an average of $29,817 per coin. Moreover, the company also paid off its loan from troubled Silvergate Bank in full. Microstrategy Buys More Bitcoin Nasdaq-listed Microstrategy Inc. (Nasdaq: MSTR) announced Monday that it has acquired 6,455 more bitcoins. CEO Michael Saylor tweeted: Microstrategy repaid its $205M Silvergate loan at a 22% discount. As of 3/23/23, MSTR acquired an additional ~6,455 bitcoins for…

BTC Consolidates Near $28,000, as First Citizen Agrees to Acquire Silicon Valley Bank – Market Updates Bitcoin News

boss

Bitcoin started the week trading around the $28,000 mark, as markets reacted to the news that Silicon Valley Bank was to be acquired. First Citizen Bank agreed to buy approximately $72 billion in SVB assets, at a discounted rate of $16.5 billion. Ethereum continued to trade under $1,800 on Monday. Bitcoin Bitcoin (BTC) started the week trading marginally higher, with prices hovering near the $28,000 level. Following a bottom at $27,678.15 on Sunday, BTC/USD moved to a high of $28,178.14 earlier in today’s session. The move saw bitcoin edge towards…

‘The Only Way to Truly Scale Blockchains Is to Parallelize Processing’ Says Piers Ridyard – Interview Bitcoin News

boss

Despite being touted as the possible panacea, decentralized finance (defi) still faces obstacles which greatly diminish the prospects of mainstream adoption, asserts serial entrepreneur and CEO of Radix DLT, Piers Ridyard. Ridyard added that while defi is seen as “a fantastic proof of concept,” widespread adoption of this alternative to traditional finance is only possible when the developer and user experience is improved. Developer Incentives and Mass Adoption of Defi Besides improving developer and user experience, the Radix CEO told Bitcoin.com News that the provision of ongoing and sustainable support…