Tag: News

Multichain Wallet Bitkeep Raises $30 Million From Bitget to Strengthen Links Between Defi and Cefi – Bitcoin News

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On Wednesday, the multichain wallet Bitkeep announced it raised $30 million from the crypto derivatives platform Bitget. Bitkeep now has an overall valuation of $300 million, with goals aimed at strengthening the links between decentralized finance (defi) and centralized finance (cefi). Bitget Invests $30 Million in Bitkeep; Wallet Firm Is Now Valued at $300M Crypto derivatives exchange Bitget has announced that it has invested $30 million in the multichain wallet company Bitkeep, making it the startup’s controlling stakeholder. Bitget detailed on Wednesday that the wallet will gain access to the…

US Senator Introduces Bill to Ban Direct-to-Consumer Central Bank Digital Currency – Regulation Bitcoin News

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U.S. Senator Ted Cruz has introduced “legislation to prohibit the Federal Reserve from developing a direct-to-consumer” central bank digital currency (CBDC). The lawmaker warned that it “could be used as a financial surveillance tool by the federal government.” Another senator stressed: “The American people ought to be able to spend their money how they choose without the possibility that every transaction could be tracked by the government.” Senator Ted Cruz’s CBDC Bill U.S. Senator Ted Cruz (R-TX) announced Tuesday that he has reintroduced “legislation to prohibit the Federal Reserve from…

Anticipation Spurs IOU Markets for Arbitrum’s Native Cryptocurrency Asset – Markets and Prices Bitcoin News

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A week ago, the Ethereum layer two scaling solution Arbitrum announced the launch of its native token called ARB, and since then IOU markets have launched giving some indication of how much the token may be worth. ARB claiming begins March 23 and when people get their coins on exchanges, the token’s value may turn out to be a whole lot different. At present, ARB has been exchanging hands for $5.41 to $7.92 per unit over the past 24 hours. ARB Token Sees IOU Trade Volume but Market Value May…

Texas Lawmaker Launches Resolution to Protect Bitcoin Investors, Support BTC Economy – Regulation Bitcoin News

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A legislative proposal has been introduced to support the bitcoin economy in the U.S. state of Texas. “The individuals who own bitcoin should be protected” under the Texas Constitution, the proposal describes. “No citizen of Texas shall ever be deprived of their right to own bitcoin and that all bitcoin owners will be protected as they enjoy all the privileges associated with the cryptocurrency.” Resolution to Support Bitcoin Economy A legislative proposal called House Concurrent Resolution 89 (HCR89), which expresses support for the bitcoin economy in Texas, was introduced in…

Bitcoin Supercycle May Be Happening, Says Commodity Strategist Mike McGlone – Markets and Prices Bitcoin News

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Bloomberg Intelligence senior commodity strategist Mike McGlone has explained that a supercycle may be happening in bitcoin, noting that the cryptocurrency is beating gold by almost 10 times so far this year. The strategist added that if past trends hold, bitcoin’s volatility is more likely to recover compared to commodities when the crypto “heads toward new highs.” Bitcoin’s Supercycle Mike McGlone, a senior commodity strategist for Bloomberg Intelligence (BI), the research arm of Bloomberg, explained on Twitter Tuesday that a supercycle may be happening in bitcoin. He tweeted: Looking for…

SEC Informs Crypto Exchange Coinbase of Potential Securities Law Violations – Regulation Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) has sent Coinbase a “Wells notice” about potential violations of securities law. The Nasdaq-listed cryptocurrency exchange noted that, unlike what SEC Chairman Gary Gensler said, the securities regulator “will not let crypto companies ‘come in and register.’” Coinbase CEO Brian Armstrong explained: “A Wells notice typically precedes an enforcement action.” Coinbase Receives a ‘Wells Notice’ From SEC Cryptocurrency exchange Coinbase (Nasdaq: COIN) announced Wednesday that it has received a “Wells notice” from the U.S. Securities and Exchange Commission (SEC) “regarding an unspecified portion…

Putin, Xi Vow to Use Yuan as Russia and China Move to Settlements in National Currencies – Economics Bitcoin News

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As part of the talks that Russian president Vladimir Putin and Chinese president Xi Jinping are currently conducting in Russia, Russia has vowed to move to use the Chinese yuan as a settlement currency with countries in Asia, Africa, and Latam. Putin expressed that using national currencies for international trading “should be encouraged further.” Russia Expresses Support for Using Chinese Yuan in International Settlements President Vladimir Putin of Russia has made statements supporting substituting the U.S. dollar as a settlement currency for settling international payments. As part of the visit…

SEC Sues Tron Founder Justin Sun for Market Manipulation and Offering Unregistered Securities – Regulation Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) has taken action against Justin Sun, the founder of Tron, and the Tron Foundation, issuing charges for offering unregistered securities and market manipulation. Additionally, a group of influencers have been charged by the organization for promoting tron without disclosing that they were being compensated for their endorsements. Tron Founder Justin Sun Charged for Selling Unregistered Securities and Market Manipulation The U.S. SEC announced today a series of charges against Tron founder Justin Sun, and the Tron Foundation, declaring that the foundation…

Value Locked in Defi Rises Above $50 Billion Mark, Ethereum Dominates TVL by Blockchain – Defi Bitcoin News

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The total value locked (TVL) in decentralized finance (defi) has risen above the $50 billion mark after falling below the range throughout most of March. At present, the value locked in defi is approximately $50.34 billion, up 1.97% over the past 24 hours. Defi Value Swells Close to 2% Higher to Over $50 Billion With crypto assets swelling in value and the crypto economy rising 1.2% to $1.24 trillion, the total value locked (TVL) in defi on Wednesday was $50.34 billion. The defi platform Lido Finance dominates the top defi…

Federal Reserve Hikes Rate by 25bps to Keep Inflation at Bay, Aims for 2% Inflation Rate by 2025 – Bitcoin News

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Following the fallout over the past two weeks in the U.S. banking industry, the Federal Reserve raised the federal funds rate by 25 basis points (bps) on Wednesday, citing the need for the inflation rate to return to 2% over the long run. Fed Raises Rate Despite Calamity in the U.S. Banking Sector It’s been a rough two weeks for the U.S. economy after the fall of Silvergate Bank, Silicon Valley Bank, and Signature Bank. After these bank failures took place, the Federal Reserve announced the creation of the Bank…