Tag: News

LTC, SOL Climb to 1-Week Highs on Monday – Market Updates Bitcoin News

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Solana extended recent gains on Monday, as the token rose to a one-week high, following recent declines. The token dropped below the $20.00 level last week, as a red wave hit cryptocurrency markets. Litecoin was also higher today, climbing by nearly 7%. Solana (SOL) Solana (SOL) rose to a one-week high on Monday, as momentum shifted following a recent bear run. SOL/USD surged to a peak of $21.49 earlier in today’s session., which comes after Sunday’s low of $20.65. As a result of this rally, solana moved to its strongest…

Bitcoin Cash Achieves Milestone Upgrade, Unleashing Cashtokens’ Transformative Features  – Bitcoin News

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On May 15, 2023, the Bitcoin Cash network achieved another annual milestone by seamlessly integrating four cutting-edge features into its consensus ruleset. At precisely 1:24 p.m. UTC on Monday, the eagerly anticipated upgrade went live, marking a significant leap forward for the peer-to-peer electronic cash platform. Bitcoin Cash fans believe the transformative changes are set to revolutionize the blockchain’s ecosystem. Bitcoin Cash Network Takes a Leap Forward With 4 New Ruleset Changes At Bitcoin Cash block height 792,772, the network successfully upgraded the blockchain. The upgrade is more developer focused…

BTC Rebounds From 2-Month Low, Climbing Back Above $27,000 – Market Updates Bitcoin News

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Bitcoin was back in the green on Monday, as prices climbed back above the $27,000 level to start the week. Prices slipped to a two-month low over the weekend, however momentum has marginally shifted. Ethereum was also higher today. Bitcoin Bitcoin (BTC) jumped back above the $27,000 level to start the week, as sentiment showed glimpses of shifting after last week’s bear run. Following a low of $26,762.25 on Sunday, BTC/USD raced to an intraday peak of $27,521.62 earlier in today’s session. The move saw the world’s largest cryptocurrency continue…

De-Risking or Decoupling? China- US Bilateral Trade Falls More Than 10% This Year – Economics Bitcoin News

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Analysts have criticized the new ‘de-risking’ strategy that the U.S. is currently using against China, explained by U.S. National Security Advisor Jake Sullivan in April, clarifying that national security was over economic costs. These de-risking policies might affect bilateral trade, which fell by 11.2% to $217.9 billion during the first four months of 2023. ‘De-Risking’ Is a Euphemism for Decoupling U.S. and China Relations, Analysts State Analysts are criticizing the ‘de-risking’ strategy of the US against China. The term, which was mentioned by the U.S. National Security Advisor Jake Sullivan…

Reef Labs Is Launching a $10M Accelerator Program to Empower Web3 Projects in the Middle East – Press release Bitcoin News

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press release PRESS RELEASE. Reef is thrilled to announce the launch of a $10 Million Accelerator Program for Web3 projects building on the Reef Chain, which are based out of the Middle East. The program, managed by Reef Labs, aims to support, incubate, and invest in promising Middle East-based Web3 developers, teams, and projects building on the Reef Chain. The rise of blockchain/Web3 applications in the Middle East are setting the stage for remarkable technological progress and innovation. Reef has already made a significant impact in the region by securing…

South Korean Politician Quits Party Over Crypto Scandal – Bitcoin News

A member of the South Korean parliament is leaving his party amid mounting allegations of massive crypto investments inconsistent with his frugal public image. The controversy, which has caught the attention of the Korean society, involves accusations of conflict of interest and other irregularities. Lawmaker Leaves South Korean Opposition Party Over Crypto Holdings Kim Nam-kuk, a representative in the South Korean National Assembly, announced he will leave his political faction amid a growing scandal surrounding his alleged cryptocurrency dealings. In a Facebook post on Sunday, he wrote: Today, I am…

Bolivia Mulls Chinese Yuan for Trade Settlements, Steve Hanke Proposes 30-Day Solution for Venezuelan Inflation – Bitcoin News

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Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, Bolivia mulls using the Chinese yuan in international trade settlements, inflation reaches 108.8% in Argentina, and Steve Hanke states he can eliminate Venezuela’s inflation in 30 days. Bolivia Mulls Using Chinese Yuan in International Trade Settlements The government of Bolivia has announced it is considering the usage of the Chinese yuan as a replacement for the US dollar for international trade settlements. The Bolivian President…

China, France to Deepen Ties Following Meeting of French President Macron and Chinese Leader Xi Jinping – Economics Bitcoin News

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Chinese and French foreign ministers have expressed readiness to strengthen cooperation and pursue a “close and enduring comprehensive strategic partnership,” according to China’s Ministry of Foreign Affairs. This followed a “successful” meeting between French President Emmanuel Macron and Chinese President Xi Jinping. China and France to Strengthen Relations State Councilor and Foreign Minister Qin Gang held talks with French Minister for Europe and Foreign Affairs Catherine Colonna in Paris last week, according to a statement by China’s Ministry of Foreign Affairs. According to the Chinese foreign ministry, both Qin and…

US Default Could Spark Global Financial Crisis – Economics Bitcoin News

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Harvard economics professor Kenneth Rogoff, who previously served as the chief economist at the International Monetary Fund (IMF), has warned that the U.S. defaulting on its debt obligations could spark a global financial crisis. “It’s a very perilous situation and we are in unknown waters,” he warned. Harvard Professor of Economics Kenneth Rogoff on U.S. Default and Global Financial Crisis Harvard economics professor Kenneth Rogoff shared his view on the U.S. economy, a possible U.S. default, and a global financial crisis in an interview with ET editor Srijana Mitra Das,…

Hedge Fund Mogul Stanley Druckenmiller Warns of ‘Hard Landing’ for US Economy – Bitcoin News

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Billionaire hedge fund manager Stanley Druckenmiller has a dire prediction for the U.S. economy: a recession is looming, and it’s likely set to hit this June. Druckenmiller’s forecast comes as American consumer spending remains low, and is largely driven by credit card usage. Druckenmiller, a seasoned investment mogul, warns that it would be foolish to ignore the possibility of a “really, really bad” scenario unfolding. Druckenmiller Cites Drop in Consumer Spending and Banking Industry Turmoil as Recession Indicators At the 2023 Sohn Investment Conference in San Francisco, Stanley Druckenmiller sounded…