Tag: News

US Treasury’s Yellen Says Crypto Doesn’t Have Adequate Regulation — Calls FTX Collapse ‘a Lehman Moment’ – Regulation Bitcoin News

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U.S. Treasury Secretary Janet Yellen says that the collapse of crypto exchange FTX shows that the crypto industry “really needs to have adequate regulation.” She added: “It’s a Lehman moment within crypto, and crypto is big enough that we’ve had substantial harm with investors.” Treasury Secretary Janet Yellen on FTX Implosion and the Need for Adequate Crypto Regulation U.S. Treasury Secretary Janet Yellen talked about the need for adequate crypto regulation following the collapse of crypto exchange FTX at an event hosted by the New York Times Dealbook Wednesday. She…

Elon Musk Warns of Severe Recession — Urges the Fed to Cut Interest Rates Immediately – Economics Bitcoin News

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Tesla CEO and Twitter boss Elon Musk has warned of a severe recession in the U.S. The billionaire stressed that the Federal Reserve needs to cut interest rates “immediately,” emphasizing that the Fed is “massively amplifying the probability of a severe recession.” Elon Musk Warns About Severe Recession Tesla CEO and Twitter chief Elon Musk warned about a severe recession in the U.S. on Wednesday. Replying to Vincent Yu who tweeted that he is “expecting a real economic recession in 2023,” Musk said the trend is concerning, emphasizing that the…

Markets Spike After Fed Chair Says It ‘Makes Sense to Moderate the Pace’ of Rate Hikes, Hints Easing Could Happen in December – Market Updates Bitcoin News

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Equities, precious metals, and cryptocurrencies shined on Wednesday following Federal Reserve chairman Jerome Powell’s speech at the Brookings Institution in Washington. The crypto economy increased 3.11% to $860 billion, while the top four stock indexes jumped between 2% to 5% higher on Nov. 30. Stocks, Crypto, and Precious Metal Markets Jump Higher Against the Greenback Following Powell’s Speech at Brookings Institution On the last day of November, the U.S. central bank’s chief Jerome Powell offered a “progress report on the Federal Open Market Committee’s (FOMC) efforts.” The Fed chair’s speech…

Data Shows There’s No Profits Left for Bitcoin Miners That Can’t Obtain Cheap Electricity, Run Efficient Mining Rigs – Mining Bitcoin News

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During the last few weeks bitcoin’s cost of production has been higher than the leading crypto asset’s spot market value and in turn, this has put massive pressure on bitcoin miners. On Nov. 30, 2022, statistics show if miners paying for electricity pay roughly $0.12 per kilowatt hour (kWh), only three application-specific integrated circuit (ASIC) mining rigs are profitable. At a rate of $0.07 per kWh, profits begin to increase and data shows 16 different ASIC bitcoin mining devices are profitable with electrical costs at that rate. At $0.12 per…

ECB Blog Post Insists This Is ‘Bitcoin’s Last Stand,’ Officials Claim BTC Is Headed Toward ‘Irrelevance’ – Bitcoin News

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On Wednesday, Nov. 30, 2022, a blog post published by the European Central Bank (ECB) discusses bitcoin and the authors Ulrich Bindseil and Jürgen Schaaf seem to believe its “bitcoin’s last stand.” The ECB authors further say that while bitcoin’s price has consolidated and stabilized, the central bank officials remarked that “it is an artificially induced last gasp before the road to irrelevance.” Members of Europe’s Central Bank Believe They Predicted Bitcoin Would Be Heading Toward ‘Irrelevance’ Before FTX Went Bust Two members of Europe’s central bank, Ulrich Bindseil, the…

LTC Nears 6-Month High, as Near Rebounds From Recent Lows – Market Updates Bitcoin News

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Litecoin has been a notable mover on Nov. 30, as the token edged closer to a recent six month high. Following yesterday’s gains, cryptocurrency prices remained in the green on Wednesday, with the global market capitalization up 2.07% as of writing this. Near protocol also surged today, as prices rebounded from recent lows. Litecoin Litecoin (LTC) moved closer to a six month high on Wednesday, as the token rose for a second straight session. LTC/USD rallied to an intraday high of $79.73 earlier in today’s session, less than 24-hours after…

Sam Bankman-Fried Interview Reveals Dark Donations to Republicans, FTX’s ‘Poorly Labeled Accounting’ – Bitcoin News

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On Nov. 29, 2022, the crypto supporter and reporter, Tiffany Fong, published an interview with the former FTX CEO Sam Bankman-Fried (SBF) that was recorded 13 days before the interview was released. During the interview, SBF discussed who he thinks may have hacked FTX and he further denied he had a backdoor installed to funnel funds between FTX and Alameda Research. “I don’t even know how to code,” SBF stressed to Fong during the conversation. Additionally, the New York Times claims to have obtained a slew of emails and text…

BTC Moves Above $17,000 on Wednesday – Market Updates Bitcoin News

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Bitcoin moved to $17,000 on Wednesday, as markets continued to digest the U.S. consumer confidence report. Confidence amongst consumers fell to its lowest level since July, despite inflation easing in the world’s largest economy. Ethereum remained higher, edging closer to $1,300. Bitcoin Bitcoin (BTC) briefly rose above $17,000 in today’s session, as traders reacted to the latest U.S. consumer confidence report. Despite falling to a six-month low, the decline in confidence was less than expected, which was a relatively positive sign for markets. Following a low of $16,366.66, BTC/USD rose…

Nigerian Securities Regulator to Exclude Crypto in its Digital Asset Agenda – Regulation Bitcoin News

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According to Lamido Yuguda, the director general of the Nigerian Securities and Exchange Commission, the regulator does not plan on including cryptocurrencies in its digital asset agenda. Yuguda reportedly said the commission will only change its stance on cryptos when Nigerian regulators agree on the standards to protect digital asset investors. Commission to Promote ‘Sensible Digital Assets’ The Nigerian Securities and Exchange Commission (NSEC) said it will only include cryptocurrencies in its digital assets agenda when regulators finally agree on the standards to protect investors. The commission added that cryptocurrencies…

Football Fever Is Infecting DeFi Project With Excitement – Press release Bitcoin News

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press release PRESS RELEASE. Doha, Qatar: For the next couple of weeks, over a billion people are glued to the TV every day watching players of their favorite team working brilliantly together to win the ultimate prize. What’s really different this time around is how much crypto plays a role in football, with team fan tokens and NFT collections released by football stars like Christiano Ronaldo as prominent examples. And now, leading communities in crypto are joining football fever and even using it as an opportunity to bring crypto to…