Tag: News

Bitcoin Miners Breathe a Sigh of Relief as Difficulty Drops 1.45% After Five Consecutive Increases – Mining Bitcoin News

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Bitcoin’s network has been putting miners through the wringer lately, with five straight difficulty increases that had them on edge. However, on May 4, 2023, at block height 788,256, the network difficulty level took a dip, dropping by 1.45% and bringing the overall difficulty down to 48.01 trillion for the next two weeks. Bitcoin Difficulty Takes a Dip After Five Straight Increases Bitcoin’s difficulty level finally dropped on May 4, 2023, after increasing five times since the February 24 increase of 9.95%. The five difficulty increases combined equated to a…

Anti-CBDC Bill Receives Overwhelming Support in House and Senate – Bitcoin News

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In the wake of Florida Governor Ron DeSantis’ remarks in Jacksonville on Tuesday, both the Florida House of Representatives and Senate have approved the state’s anti-central bank digital currency (CBDC) legislation, dubbed SB 7054. The bill explicitly states that should the U.S. central bank, a federal agency, or a foreign government issue a CBDC, its use as a “digital medium of exchange” will be strictly forbidden in Florida. Florida Aims to Protect Privacy with Ban on Central Bank Digital Currencies On Wednesday, the Florida House of Representatives endorsed the anti-CBDC…

A Comprehensive Look at the ‘Great Consolidation’ and Largest Bank Failures of 2023 – Finance Bitcoin News

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2023 has been a rollercoaster ride for the U.S. banking industry. The collapse of three major banks has sent shockwaves through the financial world, with their combined assets surpassing the top 25 banks that crumbled in 2008. The following is a closer look at what has triggered a ‘great consolidation’ in the banking sector, a recurring theme in the industry’s history over the past century. A Listicle of Bank Consolidation, Failures, and Issues Facing the U.S. Banking Sector The U.S. banking industry has taken a beating in 2023, with the…

Bitget Launches Blockchain4Youth Initiative | Blockchain News

Bitget, a cryptocurrency derivatives exchange, has announced a new corporate social responsibility project, Blockchain4Youth, aimed at promoting cryptocurrency education among the younger generation. The initiative will allocate $10 million over five years towards providing blockchain courses and certifications through Bitget Academy and hosting campus lectures in partnership with universities worldwide. Bitget will also collaborate with other leading blockchain firms to incubate innovative projects by young entrepreneurs and host U30 (Under the age of 30) hackathons to identify the most promising ones. Blockchain4Youth will commence this month with a series of…

Russia Projected to Start Purchasing Chinese Yuan for Its Foreign Reserves as Soon as May – Economics Bitcoin News

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Russia will start to purchase Chinese yuan for its international reserves as soon as this month, according to reports from Russian economists. While analysts state that the purchases will be small and symbolic in the beginning, these will supposedly demonstrate a turnaround in the economy of the country. Russia to Purchase Chinese Yuan for Reserves Russia will start purchasing Chinese yuan for the first time since the invasion of Ukraine, according to reports from local economists. The move marks a departure from the sell-off that the Russian Federation began executing…

IMF Chief Warns of More Weaknesses in US Banking Sector — Sees ‘Gradual’ Shift Away From US Dollar – Economics Bitcoin News

International Monetary Fund (IMF) Managing Director Kristalina Georgieva expects “more vulnerabilities” in the U.S. banking sector amid a growing de-dollarization trend worldwide. “There has been a gradual shift away from the dollar,” the IMF chief acknowledged. U.S. Banking Crisis Continues The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, talked about the U.S. banking crisis and a growing de-dollarization trend Monday at the 2023 Milken Institute Global Conference in Beverly Hills, California. The IMF chief warned of more vulnerabilities in the U.S. banking sector, noting that the Federal…

Play-to-Earn Is Dead, But ScapesMania’s Launch Brings a Vital Alternative In Light of the P2E Apocalypse – Press release Bitcoin News

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press release PRESS RELEASE. P2E projects have reached a dead-end due to the inherent issues of the model. Token Prices and user bases are plummeting and revenue streams of such projects are no longer functioning. So, is this it for the P2E, and is there a way out? May 4, 2023, MAHÉ, SEYCHELLES – After a tumultuous two years, the market cap for GameFi tokens stood at a staggering $27 Billion USD at the start of 2022. Fast forward to 2023, and that amount stands at a much cooler figure…

Ukraine, US Shut Down 9 Cryptocurrency Exchanges – Bitcoin News

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Supported by U.S. law enforcement, police in Ukraine have disrupted a network of crypto exchange services suspected of laundering criminal proceeds. The platforms were allegedly processing dirty money obtained from ransomware attacks and various fraud schemes. Cyberpolice, US Investigators Bust Crypto Exchanges in Ukraine Officers from Ukraine’s Cyberpolice unit and Main Investigative Department, working with the Prosecutor General’s Office, have seized nine cryptocurrency exchanges, the National Police of Ukraine announced. Representatives of the U.S. Federal Bureau of Investigation (FBI) also took part in what Ukrainian authorities described as a “multi-level…

Ex-Coinbase Exec Balaji Srinivasan Closes Out $1 Million Bitcoin Bet – Bitcoin News

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Former Chief Technology Officer at Coinbase, Balaji Srinivasan, closed out early a bet that the price of bitcoin would hit $1 million by mid-June amid hyperinflation of the U.S. dollar. Srinivasan paid a total of $1.5 million, more than the initially committed $1 million, with two-thirds of the money donated to two organizations. Former Coinbase CTO Settles $1 Million Bet on Bitcoin Ahead of Time Balaji Srinivasan, the ex-chief tech officer of U.S. crypto exchange Coinbase, has closed his million-dollar Bitcoin bet with the pseudonymous Twitter pundit James Medlock. On…

Robert Kennedy Jr Warns of Mega Economic Crisis — Says ‘It’s Not Just the Banks’ – Economics Bitcoin News

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U.S. Presidential Candidate Robert F. Kennedy Jr. has warned that “the banking collapse is the tip of an economic mega-crisis,” emphasizing that “It’s not just the banks.” He also slammed President Joe Biden’s crypto mining tax proposal. “It is a mistake for the U.S. government to hobble the industry and drive innovation elsewhere,” Kennedy stressed. Looming Economic ‘Mega-Crisis’ Robert F. Kennedy Jr., who launched his presidential campaign last month, issued several warnings this week about the state of the U.S. economy, the banking crisis, and President Joe Biden’s cryptocurrency mining…