Tag: News

Lego Prepares a Metaverse Collaboration With Epic Games to Target Digital Markets – Metaverse Bitcoin News

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Lego, the Danish toy company famous for its colorful plastic bricks, expects to diversify its entertainment offerings portfolio, targeting the metaverse. The company is preparing to present a virtual world in partnership with Epic Games, the gaming engine company, to continue increasing its market share and growth streak by entering new digital markets. Lego to Present Digital World Initiative Lego, the interlocking toy brick company, is preparing to present details of a metaverse initiative built in partnership with Epic Games, the company behind Fortnite, according to the Financial Times. The…

Steve Forbes Says the Fed Is ‘Inflicting Unnecessary Pain’ With Interest Rate Hikes – Economics Bitcoin News

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Media mogul Steve Forbes, chairman of Forbes Media, has warned that the Federal Reserve is “inflicting unnecessary pain” on the U.S. economy with its interest rate hikes after Fed Chair Jerome Powell said the Fed is prepared to raise interest rates at a faster pace. He also pointed out “the fundamental flaw in central bankers’ and most economists’ approach.” Media Mogul Steve Forbes Warns About Fed Policies Steve Forbes, chairman of Forbes Media, warned on Thursday that the Federal Reserve is “inflicting unnecessary pain” on the U.S. economy. His warning…

Fed Chair Powell Provides Update on US Central Bank Digital Currency – Regulation Bitcoin News

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Federal Reserve Chairman Jerome Powell has provided an update on the Fed’s central bank digital currency (CBDC) work in a hearing before the House Financial Services Committee. While stating that the Fed is “making progress on technological issues,” Powell stressed that “policy issues are equally important.” Fed Chair Powell on CBDC Progress During a hearing before the House Financial Services Committee on Wednesday, Congressman Stephen Lynch (D-MA) asked Federal Reserve Chairman Jerome Powell for an update on the Fed’s work regarding a possible central bank digital currency (CBDC), the digital…

Digital Real Pilot to Run on Ethereum-Compatible, Permissioned Blockchain – Finance Bitcoin News

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According to the Central Bank of Brazil, the digital real pilot project will use an Ethereum-compatible, permissioned blockchain for the issuance of the tokenized version of the country’s currency. Hyperledger Besu, the open-source platform elected for the tests, will allow the project to run without any licensing costs and to deal with maintenance costs later, if the platform is definitely chosen. Tokenized Digital Real Pilot to Use Ethereum-Compatible Hyperledger Besu Brazil continues to move forward with its plan of delivering a working version of its own central bank digital currency…

New York Attorney General Files Lawsuit Against Kucoin and Declares Ethereum a Security – Bitcoin News

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On March 9, 2023, New York attorney general Letitia James announced that her office had once again cracked down on crypto platforms by filing a lawsuit against the Seychelles-based crypto exchange Kucoin. Members of the Office of the Attorney General (OAG) were able to purchase crypto assets, despite the exchange not being registered in the state. In addition to the lawsuit, James and the OAG insist that the second-largest crypto asset by market capitalization, ethereum, is a security. Why Ethereum Is Considered a Security According to New York’s OAG Two…

Investors Urged to Exercise Caution – Bitcoin News

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According to a recent warning by the U.S. Public Company Accounting Oversight Board (PCAOB), crypto proof-of-reserve (POR) audits have limitations, and the board believes that investors should exercise caution when dealing with companies using POR audits. PCAOB Calls for Investor Caution and Due Diligence When Using Proof-of-Reserve Reports The U.S. accounting watchdog recently issued an advisory warning about auditors using proof-of-reserve (POR) techniques to audit specific crypto companies, such as exchanges and stablecoin issuers. The Public Company Accounting Oversight Board (PCAOB) stated that it is aware of certain PCAOB-registered audit…

‘Pay Attention to QT and the Money Supply’ – Economics Bitcoin News

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During the Covid-19 pandemic, central banks such as the U.S. Federal Reserve loosened fiscal and monetary policy. Now, these same financial institutions are seemingly engaging in quantitative tightening (QT) practices. According to Nick Gerli, CEO and founder of Reventure Consulting, “the money supply is officially contracting.” This has only happened four times in the last 150 years. Gerli warns that every time it occurs, a depression takes place with double-digit unemployment rates. The Contraction of Money Supply and its Impact on the Economy Several market analysts and economists are uncertain…

Elizabeth Warren Blames ‘Crypto Risk’ for Silvergate Bank’s Liquidation, Critics Dismiss Senator’s Claims as ‘Terribly Misinformed’ – Bitcoin News

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After Silvergate Bank announced its voluntary liquidation, U.S. senator Elizabeth Warren is attributing the financial institution’s downfall to “crypto risk.” According to Warren, she had previously warned about Silvergate. However, some critics are dismissing Warren’s opinion as “terribly misinformed” and claim that she is “tossing out egregious accusations.” Crypto Proponents Offer Different Perspectives on Silvergate Bank’s Downfall After Elizabeth Warren Blasts So-Called ‘Crypto Risk’ Hours after Silvergate Bank announced its liquidation, U.S. senator Elizabeth Warren (D-MA) tweeted about the financial institution’s demise. Warren once again referred to cryptocurrencies as risky…

MATIC, SOL Fall to Lowest Point Since January – Market Updates Bitcoin News

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Polygon fell to its lowest point since January earlier in today’s session, as overall sentiment in crypto markets remained bearish. Overall, the global market cap is now down 1.46% as of writing. Solana also slipped on Thursday, as the token neared a two-month low. Polygon (MATIC) Thursday saw polygon (MATIC) drop to its weakest point since January, as sentiment in the market remained bearish. Following a high of $1.11 on Wednesday, MATIC/USD moved to a bottom at $1.04 earlier in today’s session. The last time polygon traded at this level…

ESG Analyst Daniel Batten Reveals Dynamic Charts Showing Bitcoin’s 52.6% Sustainable Energy Use – Bitcoin News

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Environmental, social, and governance (ESG) analyst Daniel Batten said Tuesday that the computational backbone of the Bitcoin network now uses 52.6% sustainable energy. Batten and onchain analyst Willy Woo created Dynamic Bitcoin ESG Charts to showcase the protocol’s progress. Contrary to Cambridge University Data, Analyst Says Bitcoin Mining Uses 52.6% Sustainable Energy These days, there is significant debate regarding the environmental impact of Bitcoin mining. On March 7, 2023, ESG analyst Daniel Batten tweeted about new ESG charts he helped design with Willy Woo that show Bitcoin’s progress toward using…