Tag: News

‘Landmark’ Crypto Law Proposed in New York to Establish ‘Strongest and Most Comprehensive’ Crypto Regulations in US – Regulation Bitcoin News

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New York State Attorney General Letitia James has proposed “landmark” crypto legislation that claims to be “the strongest and most comprehensive set of regulations on cryptocurrency” in the United States. “Rampant fraud and dysfunction have become the hallmarks of cryptocurrency and it is time to bring law and order to the multi-billion-dollar industry,” said Attorney General James. NYAG Letitia James Launches ‘Landmark’ Crypto Legislation The New York State Attorney General (NYAG) Office announced Friday that Attorney General Letitia James has proposed “landmark legislation to tighten regulations on the cryptocurrency industry…

Nigerian Payments Provider Nomba Secures $30 Million in Pre-Series B Funding Round – Africa Bitcoin News

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The Nigerian payments startup, Nomba, is reported to have raised $30 million via a pre-Series B that was led by Base10 Partners. The new solution is expected to help the startup operate more efficiently and deliver “excellent customer experiences.” Plugging Gaps in Payment Processes Nomba, a Nigerian payments startup, has raised a US$30 million pre-Series B funding round. According to a Disrupt Africa report, the startup’s oversubscribed equity round was led by San Francisco-based Base10 Partners. Helios Digital Ventures, Shopify, Partech, and Khosla Ventures also participated in the round. As…

Louisiana Senator Compares Modern Banks to ‘Sophisticated Ponzi Schemes’ – Economics Bitcoin News

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Louisiana Republican senator John Kennedy recently stated in an interview published on Wednesday that the U.S. Federal Reserve may need to increase the federal funds rate to 8-10% to address the country’s inflationary pressures. Kennedy’s remarks come after he criticized the Biden administration in mid-March for bailing out Silicon Valley Bank and Signature Bank, emphasizing that the decision to make all depositors whole “was a bail out,” regardless of what it was called. Senator John Kennedy: ‘Powell’s Gonna Have to Raise Rates Much Higher Than He Normally’ During a recent…

Bitcoin Network Overwhelmed by 390,000 Unconfirmed Transactions and Surging Fees – Bitcoin News

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In just under two weeks, the number of unconfirmed transactions on the Bitcoin network has skyrocketed from 134,000 to over 390,000, causing a bottleneck in the mempool. This surge in unconfirmed transactions has resulted in a staggering 343% increase in transaction fees, which have risen from $1.99 per transaction on April 26 to a current rate of $8.82 per transaction as of May 7. Bitcoin miners are struggling to keep up with the demand, leaving many users frustrated and unable to complete their transactions in a timely manner. Bitcoin Network…

Bitcoin’s BRC20 Token Economy Skyrockets 192% to $279 Million in Just Four Days – Blockchain Bitcoin News

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Four days ago, the market capitalization of all the BRC20 tokens built on top of the Bitcoin network was a modest $95 million. However, over the past four days, the BRC20 market valuation has seen tremendous growth, increasing by 192% and reaching $279 million. More Than 13,000 BRC20 Tokens Built on Bitcoin Are Now Worth $279M The BRC20 token standard, which is built on top of the Bitcoin network, is gaining momentum and the BRC20 token economy is flourishing. As of Sunday, May 7, 2023, the BRC20 token economy is…

Upgrade to Bring Bitcoin Cash Smart Contracts, Ted Cruz on BTC, Global De-Dollarization Efforts — Week in Review – The Weekly Bitcoin News

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Software developer Jason Dreyzehner says smart contracts “comparable to Ethereum,” but remarkably more efficient will be made possible by the May 15 upgrade coming to the Bitcoin Cash network. In other news, the world’s largest regional organization, the Shanghai Cooperation Organization (SCO) plans to switch to settlements in national currencies, moving away from the U.S. dollar. This and more, just below, in the latest Bitcoin.com News Week in Review. Bitcoin Cash Smart Contracts ‘Comparable to Those on Ethereum’ Possible via May Upgrade, ‘1000x Efficiency Advantage’: Dev Jason Dreyzehner Pro-freedom technologies…

Swedbank Strategist Says US Banking Crisis Is Spreading — Warns of More Banks Failing in ‘Vicious Spiral’ – Economics Bitcoin News

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A strategist at Swedbank, a Swedish bank, has warned that the regional banking crisis in the U.S. is spreading. After several bank failures, he stressed that Pacwest Bank, Western Alliance Bank, and First Horizon Bank have all been “subject to financial meltdowns.” Swedbank on U.S. Banking Crisis Spreading Pär Magnusson, a fixed income strategist at Swedbank, a Swedish bank based in Stockholm, has warned about the spreading of the U.S. banking crisis. He reportedly said: After Silicon Valley Bank, Signature Bank, First Republic Bank and now potentially Pacwest Bank, Western…

Digital Assets for 1 Billion Rubles Issued in Russia in a Month – Bitcoin News

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Platforms authorized by the Russian government issued digital assets worth around a billion rubles in April, the local press reported. The spike in the volume has been attributed to Russian companies experimenting with new financial instruments amid limited access to traditional capital. Russia’s Digital Assets Market Livens Up as Capital Markets Dry Up for Russian Businesses Seven placements of digital financial assets (DFAs) for a total of about 1 billion rubles ($13 million) were made in Russia last month, the Kommersant reported. Experts quoted by the business daily note that…

Binance Reportedly Investigated in US for Russia Sanctions Violations – Exchanges Bitcoin News

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Cryptocurrency exchange Binance is facing a U.S. probe over suspected violations of sanctions against Russia, according to a media report. The inquiry is looking into whether the trading platform was used by Russians to circumvent financial restrictions imposed over Moscow’s invasion of Ukraine. Crypto Exchange Binance Faces Another US Probe, Sources Say The U.S. Department of Justice (DOJ) is trying to establish if Binance Holdings, the operator of the world’s largest crypto exchange, has been used to allow Russians to evade Western sanctions, Bloomberg revealed, quoting multiple sources familiar with…

Bitcoin Provides Insurance Against Fiat Currency Failure, Says Validus Power Corp.’s Greg Foss – Bitcoin News

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On May 4, in a recent Youtube video, Validus Power Corp.’s executive director, Greg Foss, discussed the potential for the banking industry’s failures to wipe out $10 trillion in equity. Foss expressed his support for “hard assets” such as real estate, gold, and bitcoin. He believes that bitcoin, the leading crypto asset, is one of the best hard assets available. According to Foss, bitcoin provides insurance against “the failure of a basket of fiat currencies.” Foss Supports Holding Hard Assets Like Real Estate, Gold, and Bitcoin In less than two…